Thursday 29th December 2016 by THISDAY Newspapers Ltd

Police Foil Plan to Bomb Third Mainland Bridge, Arrest Mastermind Shekau’s Qur’an, flag recovered in Sambisa, says army in forest raid, 31 surrender to Nigerien authorities Chiemelie Ezeobi in Lagos and Dele Ogbodo in Abuja with agency reports

The popular Third Mainland Bridge located in Lagos, as we know it, would have been blown to smithereens

on Boxing Day but for the quick action of the police that not only foiled the attempt to blow up the bridge, but

1,244 Boko Haram suspects arrested

also arrested one of the masterminds behind the planned attack. The feat was achieved by the

Inspector General of Police’s Special Intelligence Response Team (IRT), which acting on a credible intelligence report,

trailed and arrested one of the primary suspects and recovered Continued on page 8

Airline Operators Threaten to Suspend Flights over Obsolete Landing Aids… Page 10 Thursday 29 December, 2016 Vol 21. No 7924. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

Dangote Lost $4.9 Billion in 2016 Obinna Chima with agency report The President of Dangote Group and Africa’s richest person, Alhaji Aliko Dangote lost $4.9 billion or one-third of his wealth, as the combined effect of falling oil prices and the naira devaluation in June pushed him to the 112th richest person in the world with a net worth of $10.4 billion, the latest Bloomberg Billionaires’ Index released yesterday has revealed. According to the index, Dangote was the world’s 46th-richest person as of June this year. Continued on page 9

CARNIVAL CALABAR NEVER CEASES TO AMAZE…

Gaily clad dancers in one of the trains that entertained holiday revellers and tourists from around the world at Carnival Calabar in Cross River State… yesterday

Investors Meet in January on Brass LNG, Uncertainty Looms over OKLNG Cost of Brass project, gas trains scaled down Ejiofor Alike The chief executives of the Nigerian National Petroleum Corporation (NNPC), Total and ENI are scheduled to meet early next month to decide the fate of the $15 billion Brass Liquefied Natural

Gas (LNG) project located on Brass Island, Bayelsa State, THISDAY has learnt. This is coming as uncertainty continues to loom over the fate of the $547 million already plunked into the Olokola LNG project situated on the border

town between Ogun and Ondo States, following the withdrawal of the project’s shareholders and the recent decision by the NNPC to relocate its staff seconded to the project to Abuja. THISDAY gathered that the shareholders of Brass

NLNG’S CONTRIBUTION TO THE NIGERIAN ECONOMY

LNG who have invested about $1 billion on early works, without signing a Final Investment Decision (FID), will meet in London between January 10 and 12, 2017 to take a decision on

Payment to joint venture (JV) feed gas suppliers from inception (1999) to date - $23bn 50-60% of the $23bn goes to the FGN via its shareholding in NNPC Dividends of almost $32bn to shareholders, of which 49% or $15.7bn went to FGN

Continued on page 8

THURSDAY DECEMBER 29, 2016 T H I S D AY

T H I S D AY THURSDAY DECEMBER 29, 2016

THURSDAY DECEMBER 29, 2016 T H I S D AY

T H I S D AY THURSDAY DECEMBER 29, 2016

THURSDAY DECEMBER 29, 2016 T H I S D AY

T H I S D AY THURSDAY DECEMBER 29, 2016

â&#x20AC;¢ Continued on page 50

THURSDAY, december 29, 2016 • T H I S D AY

PAGE EIGHT INVESTORS MEET IN JANUARY ON BRASS LNG, UNCERTAINTY LOOMS OVER OKLNG the multi-billion dollar project, whose FID has been kept in abeyance for a decade. An official of one of the shareholders, who spoke to THISDAY on the condition of anonymity, maintained that the Brass LNG project remained on course and blamed the delay in signing the FID to the absence of political will on the part of the Goodluck Jonathan administration and what he called the protracted withdrawal of ConocoPhillips from the project. According to him, the shareholders – NNPC, ENI, Total and ConocoPhillips - were at the point of signing the FID before the American oil major

pulled out of Nigeria. “It took them a very long time from the period they made the announcement to the period they finally pulled out, because they were looking for investors who will buy their oilfields in Nigeria and their 17 per cent stake in Brass LNG. When they found Oando, the company could only buy their oilfields immediately. So, their withdrawal was very protracted and this affected the Brass project,” he explained “Again, we were to use ConocoPhillip’s cascade technology to build the plant. When they pulled out, they dragged their feet before they agreed to give us the licence

to use the technology. Even when they agreed, they said that they would not be held responsible if anything happens to the plant in the course of using their technology,” he added. The official, however, said the Brass LNG project remained on course, adding that LNG projects were viable. “You will recall that Nigeria LNG bailed out the federal government. “The Brass project is viable but the past administration lacked the political will to pursue the FID. We are hopeful that Brass will go forward. “The Minister of State for Petroleum, Dr. Ibe Kachikwu secured $80 billion funding

from the Chinese and Indians and we are hopeful that Brass will benefit from this funding. “We have done a lot of optimisation in Brass. We have reconstituted our team and changed ConocoPhillip’s model and we are now using the Nigeria LNG model. “Our technology now is APCI technology used in building Nigeria LNG. The Managing Director is now from ENI. We have scaled down the cost from the initial $15 billion; it is now affordable to the shareholders. “We wanted to start with two trains but we have reduced it to one. The shareholders have also warehoused

THE BOYS WERE ALSO ON DISPLAY AT CARNIVAL CALABAR

Virile young men were not left out during the colours, lights and sounds of Carnival Calabar in Cross River State… yesterday

ConocoPhillip’s shares. And there is a political will on the part of the present administration. So, after the meeting next month, the shareholders will make a statement,” he added. THISDAY, however, gathered that 58 of the 70 personnel of NNPC, who were seconded to Brass LNG, were recently recalled to Abuja, leaving only 12. Similarly, NNPC has relocated its staff seconded to Olokola LNG to Abuja, following the withdrawal of all the shareholders from the project. THISDAY learnt that since the withdrawal of Chevron (14.25 per cent); Shell (19.5 per cent) and BG (14.25 per cent) due to what the shareholders called “varying constraints”, NNPC, which holds 46.75 per cent of the project, has continued to sustain Olokola LNG by funding minimal activities. A source at NNPC, who

confirmed the relocation of its OKLNG staff to Abuja, told THISDAY that the project expenses since inception amounted to about $547 million. “This includes $4.5 million proposed for the 2016 work programme and budget, which is 100 per cent funded by the NNPC,” he said. “OKLNG proposed a budget of $12.5 million for 2016 but with the relocation of OKLNG staff to Abuja, the budget was revised downwards to $4.5 million to reflect minimal activities while operating from Abuja,” he added. According to him, with the withdrawal of the shareholders and the relocation of staff, there is uncertainty over the fate of the $547 million spent on site preparation and early works. Brass LNG and OKLNG were conceived by the administration of former President Olusegun Obasanjo in 2005 to boost gas supply to both domestic and export markets.

In 2015, NLNG paid company income tax (CIT) of $2.2bn Attracted FDI of $15bn financed mainly by NLNG shareholders – IOCs (59%), NNPC (49%) Since 2008, NLNG contributed 4% of Nigeria’s annual GDP; with the rebasing it contributes 1% of GDP NLNG has converted 146Bcm (billion standard cubic metres) of associated gas to export as LNG or Natural Gas Liquids (NGL), thus reducing gas flaring by upstream companies 30,000 direct and indirect jobs have been created by NLNG Source: Nigeria Liquefied Natural Gas Company Ltd.

POLICE FOIL PLAN TO BOMB THIRD MAINLAND BRIDGE, ARREST MASTERMIND not just rifles but explosives and the detonators. The suspect was identified as 43-year-old Abiodun Amos, a member of a notorious militant group operating from the creeks of Ikorodu and Arepo areas of Lagos and Ogun States. Amos, who is a top commander of the group, has since confessed to how he intended to blow up the Third Mainland Bridge in Lagos on Boxing Day. Nicknamed Senti, the Ijaw native of Arugbo in Ese-Odo Local Government of Ondo State, was not just a commander but also the militant group’s chief explosives maker. Unknown to him, however, the IRT had been building intelligence on him and were assiduously working on tracking and pining him down. Their diligence eventually paid off on the day he was to execute his nefarious plan, as he was trailed to a riverbank at the Majidu area of Ikorodu, Lagos. After he was arrested, two AK47 rifles hidden in a jute bag (known in local parlance as Ghana-Must-Go bag) were found in his possession, after which he led the IRT operatives to a vehicle parked discreetly within Ikorodu, where a large cache of dynamites and detonators were stacked in the boot of the car. THISDAY gathered that his arrest was due to an intelligence report provided by the Office of the National Security Adviser (ONSA) in Abuja. The report, which was passed on to the Inspector General of Police, Ibrahim Idris, indicated that the group was in the final stage of carrying out the said attack. The IG was said to have

directed his operatives at the IRT led by Abba Kyari, an Assistant Commissioner of Police, to commence a full-scale investigation. The investigation unearthed the fact that the group was actually planning to blow up the bridge at the end of the month. Further investigations revealed that the group had acquired large quantities of dynamites and several other explosives which would be used for the attack. Police sources said they took the intelligence report seriously due to the threats made by the group in October 2016. The militant group, which is notorious for pipeline vandalism, kidnapping and bank robberies, had demanded for amnesty, threatening to disrupt economic activities within Lagos and Ogun States if the federal government did not dialogue with them and grant them pipeline protection contracts. In one of their threats, the leader of the militant group, known as General Ossy Ibori, had boasted that they were behind most of the high profile bank robberies and kidnappings, including that of three schoolgirls of Babington Macaulay Junior Seminary School in Ikorodu, four landlords at Isheri North Area of Lagos, a traditional ruler, the Oniba of Ibaland, Oba Goriola Oseni, and several others, within Lagos and Ogun State s. In the interview, he had boasted that his group had over 21 generals commanding 7,800 battle-ready boys, adding that the group was rich enough to fight the federal government, as it had acquired thousands of military grade arms and ammunition. He boasted that he would deploy them in disrupting economic activities within Lagos

and Ogun States should the federal government fail to dialogue with the group and grant its wishes. Armed with that threat, the IRT gathered its intelligence and trailed some members of the group, arresting several within Ikorodu. It is believed that the arrested suspects gave the police information to help them trail and arrest Amos on his way out of the creeks. In his confessional statement, the 43-year-old suspect confessed that his militant group once engaged in pipeline vandalism but had resorted to kidnapping when it became difficult for them to vandalise and sell stolen petroleum products. He said: “We went into bank robberies and kidnapping because we wanted to get government’s attention and all we wanted was for them to grant us amnesty and also offer us pipeline protection contracts. “We have made several appeals and the government is not listening to us. General Ossy said if we don’t blow up the Third Mainland Bridge government would not listen to us. “We had concluded plans and we decided to carry out the attack. I am the group’s explosives expert and before I was arrested we were going into the creeks to conclude plans on how to carry out the attack.” According to a police report made available to THISDAY, the arrest of the Niger Delta militantcum-kidnapper was facilitated after he planned to bomb the Third Mainland Bridge. The report stated: “The suspect was planning to bomb the Third Mainland Bridge in Lagos and we intercepted him and recovered two AK 47 rifles, two cartons of explosives and detonators. “This was after several weeks of

meticulous follow up on credible technical intelligence generated by TIU and NSA on the activities of some notorious militants in Lagos/ Ogun areas gathering explosives to blow up the Third Mainland Bridge in Lagos. “IRT operatives eventually arrested one of the key members of the group who specialises in explosives – Abiodun Amos, aka SENTI – 43 years old, and a native of Ese Odo LGA, Ondo State. “Subject was arrested at the bank of Majidun River in Ikorodu area of Lagos with two AK47 rifles hidden in a bag he brought from their hideout in the creeks. “Subject has also mentioned other gang members. Analysis of the GSM number of the arrested suspect revealed his closed associates in Ikorodu area of Lagos. “IRT teams were deployed to Ikorodu on December 26 to apprehend the suspect, but on sighting IRT operatives the suspect jumped out of his car and escaped into the bush. “On searching the Toyota Camry car, two cartons of Gelatine dynamite explosives and hundreds of detonators were recovered in the boot of the car. “Serious efforts are ongoing to arrest the remaining gang members by the IRT operatives.”

Shekau’s Qur’an, Flag Recovered Meanwhile, the Nigerian Army yesterday said it had recovered a Qur’an and flag belonging to the leader of the Boko Haram terror sect, Abubakar Shekau, in Camp Zero, the sect’s headquarters in Sambisa forest. Maj.-Gen. Lucky Irabor, the Theatre Commander of Operation

Lafiya Dole, said this while briefing journalists on “Operation Rescue Final” at the Maimalari Cantonment, Maiduguri, reported the News Agency of Nigeria (NAN). “We believe that the Holy Book and the flag were abandoned by Abubakar Shekau while he escaped. “The book will be taken to the Chief of Army Staff, Lt.-Gen. Tukur Burutai, for onward presentation to Mr. President. “We have also made a lot of arrests. Our troops in Damboa arrested about 15 Boko Haram members. We also arrested one Musa from Potiskum on Christmas day. “On December 26 our troops also intercepted two Boko Haram suspects in Maiduguri. “We therefore warn residents of the state to be wary of people coming to hide in and around their houses. “We are also warning residents to report any suspected Boko Haram members hiding in their houses to the relevant security agencies and failure to do that would be tantamount to supporting and sympathising with the sect’s activities,” Irabor said. Irabor also disclosed that the army arrested some 1,240 suspected Boko Haram terrorists during a mop-up operation by troops inside Sambisa forest. He said that 413 of the suspects were adults, 323 were female adults, 251 male children, while 253 were female children. He said that the suspects were apprehended during a mop-up operation against the sect members in the forest. “We are interrogating them to know whether they are Boko Haram members, because there is no way somebody that is not their member

would live inside Sambisa forest. “We are still on the trail of the terrorists and I want to assure you that all escape routes have been blocked. “Within this period, also, about 30 fleeing suspected Boko Haram members have surrendered to the Niger multinational troops on the shores of the Lake Chad and we learnt that they were taken to Diffa in Niger Republic. “The suspects included 24 male and six females. “We would like to use this opportunity to encourage the terrorists to give up the fight because the window is still open,” the commander said. Confirming the arrest of the fleeing suspected terrorist, the Nigerien Interior Minister yesterday said dozens of Boko Haram Continued on page 9

TOP GAINERS NGN NGN GSK 0.75 15.75 NPFMFB 0.05 1.05 CCNN 0.21 4.42 CONOIL 1.69 35.80 NAHCO 0.11 2.33 TOP LOSERS NGN NGN FORTEOIL 9.22 85.47 SEPLAT 19.50 370.50 BETAGLASS 1.52 28.88 CAP PLC 1.66 31.60 ETI 0.57 10.88 HPE Nestle Nig Plc ₦810.00 Volume: 421.182 million shares Value: N10.078 billion Deals: 3,937 As at yesterday 28/12/16 See details on Page 48

% 5.0 5.0 4.9 4.9 4.9 % 9.7 5.0 5.0 4.9 4.9

T H I S D AY • THURSDAY, DECEMBER 29, 2016

PAGE NINE

Fire Kills Three Children Locked in a Room by Their Mother If Ngozi Ifediba, a resident of 15 Ikuna Street, Liasu Road, Ikotun Egbe in Lagos, knew what was ahead, she would not have locked her three children – all below 10 years – in a room on a day when fire engulfed her one-room apartment. The children identified as Chiamaka, Emmanuel and Chiagozie, died at Do-allars Hospital, Ikotun, where they were taken for treatment. The News Agency of Nigeria (NAN) quoted a source as saying one of the victims died shortly after they were brought to the hospital. The source said the fire, which started around 2 pm on Tuesday, was caused by a power surge. “One child died at 11 pm

on Tuesday and the second one died at 12:30 am on Wednesday,” the source said. Mutiu Wasiu, a tenant in a building adjacent to the affected house, said the room’s window was forced open before the victims were brought out. Wasiu said the children were found unconscious and covered in smoke. “It was a terrible experience for me; I see no reason why someone will lock her children inside the house to buy something,” he said. “It is only God that can save the children because the state we found them was not palatable.” Francis Simon, a resident of the area, said the children

would have been rescued on time but their neigbours were more concerned about saving their property before the fire escalated. Simon said the fire was eventually put out before the arrival of fire service personnel. “We managed to put the fire out with the help of outsiders and passers by,” he said. Confirming the incident, Razak Fadipe, Director, Lagos State Fire Service, said the information they received on arrival at the scene was that the victims’ mother locked them in. “She was said to be cooking and left them inside to purchase some items at a nearby shop when the incident occurred,” Fadipe said.

Razak Fadipe, Director, Lagos State Fire Service

NHRC Asks Security Agencies to Stop Herdsmen from Killing Innocent People Tobi Soniyi in Abuja The National Human Rights Commission (NHRC) has called on the security agencies to stop herdsmen from killing innocent people and destroying their properties. The acting Executive Secretary of the commission, Mrs. Oti Ovrawah said the time had come for the security agencies to work out a

solution to the incessant attacks by herdsmen. A statement by the commission’s head of media relations, Mrs. Fatimah Agwai Mohammad said the executive secretary of NHRC spoke against the backdrop of attacks by herdsmen in southern Kaduna. The statement read: “Time has come for the government and security agencies to ensure

effective protection of lives and property of defenseless Nigerians who have been victims of incessant attacks by suspected herdsmen in the country, Ag Executive Secretary of the National Human Rights Commission, Mrs. Oti Ovrawah has said. “Ovrawah who made this call in Abuja while reacting to the recent report of the attacks by suspected herdsmen which led to the loss

of lives and property in southern Kaduna, Kaduna State as well as similar reports in different parts of the country, noted that the government and the security agencies must act fast to put a stop to these callous acts.” She called on the security agencies to be more proactive, professional and committed in the discharge of their duties in containing persistent attacks by

herdsmen, adding that there was an urgent need to prioritise preventive measures to curtail these attacks. Ovrawah stated that the commission had received some complaints on the alleged attacks by herdsmen and would partner with other stakeholders to work out amicable solutions to the avoidable attacks. She noted with regret that the incessant attacks had led to

thousands of deaths accompanied by countless cases of displacements. She also advised communities to embrace the age long beneficial relationship of peaceful coexistence and to desist from taking arms against themselves. Observing that conflicts were usually fuelled by human rights abuses, she said addressing these abuses required an inevitable process of peace building.

during the election, including Dallas Mavericks owner Mark Cuban, who told the media in May that stocks could fall as much as 20 per cent if Trump were to win the election. U.S. billionaires -- including Buffett -- favored Trump’s rival Hillary Clinton. Still, they profited from his victory when they added $77 billion to their fortunes in the post-election rally fuelled by expectations that regulations would ease and American industry would benefit. The New York real estate mogul is building a cabinet heavy on wealth and corporate connections, and light on government experience, a mix that hedge fund billionaire Ray Dalio said last week would unleash the “animal spirits” of capitalism and drive markets even higher. Dalio is the world’s 63rd-richest person with $14.1 billion. Investors and executives welcomed Trump’s picks, including billionaire Wilbur Ross to lead the Department of Commerce and former Goldman Sachs Group Inc. executive Steven Mnuchin as his Treasury secretary, who have a combined net worth of at least

$5.6 billion, according to the index. Gates remained the world’s richest person throughout the year. Amancio Ortega, Europe’s richest person and founder of the Zara clothing chain, was in second place on the index for most of the year until he ceded it to Buffett in November. Ortega, who dropped $1.7 billion in 2016, is the world’s third-richest person with $71.2 billion. Wildcatter Hamm’s fortune was propelled by a strengthening oil price and expectations a Trump administration will slash fossilfuel regulations. Hamm added $8.4 billion to more than double his fortune to $15.3 billion. He led the 49 energy, metals and mining billionaires, who were the best-performing category on the ranking, adding $80 billion and reversing the $32 billion fall they had in 2015. Billionaire brothers Charles and David Koch each dropped $2 billion after Koch Industries reported on its website that annual revenue is estimated to be “as high as $100 billion”, compared with the estimate of “as much as $115 billion” that the conglomerate published on

the site previously. Company spokesman Rob Carlton stated in a November 17 e-mail that Koch revenue fluctuates with the price of commodities. Technology fortunes were the second-best performing on the ranking, with 55 billionaires adding $50 billion to their fortunes over the year, despite worries that a Trump presidency might introduce policies that could hurt their companies. Amazon.com Inc. founder Jeff Bezos, who doubled his fortune to $60 billion in 2015, led gains among technology executives again this year, rising $7.5 billion in 2016 on robust sales growth at the online retailer. He was followed by Facebook Inc. co-founder Mark Zuckerberg, who added $5.4 billion. Some of the industry’s biggest relative gains went to the founders of the world’s leading startups such as Uber Technologies Inc.’s Travis Kalanick and Snap Inc.’s Evan Spiegel. The so-called “unicorn” billionaires, which include Spotify Inc. co-founder Martin Lorentzon, who was identified as a billionaire for the first time in 2016, secured a series of mammoth funding rounds while moving closer to testing their

fortunes on the public markets. Other billionaires uncovered by the Bloomberg index in 2016 included the father and son behind Jose Cuervo tequila, New York real estate developer Axel Stawski and Kosovo construction tycoon Behgjet Pacolli. The index also unveiled 11 surviving family members of reclusive Thai entrepreneur Chaleo Yoovidhya, the inventor of Red Bull, whose heirs share a combined $22 billion net worth, the world’s largest energy-drink fortune. Three billionaires emerged in Argentina, including the country’s first technology billionaire Marcos Galperin, as markets rose on enthusiasm for President Mauricio Macri’s finance-friendly economic policies. China has 31 billionaires on the index with $262 billion, trailing the U.S., which has 179 billionaires who control $1.9 trillion, and Germany, whose 39 individuals have $281 billion. Russian billionaires also began to put the negative effects of U.S. and European sanctions behind them, reversing the combined $63 billion declines for 2014 and 2015 and adding $49 billion in 2016.

insurgency aimed at creating an Islamic state in Northern Nigeria. In recent years its attacks have spilled into neighbouring Niger, Cameroun and Chad. Hundreds of Boko Haram fighters surrendered in Chad in October and November as the group ceded territory. The group controlled an area

about the size of Belgium in early 2015, but has since been pushed back by international forces including troops from Niger. President Muhammadu Buhari on Saturday declared that the Nigerian Army captured its last enclave in the vast Sambisa forest on Friday.

DANGOTE LOST $4.9 BILLION IN 2016 However, the report pointed that in a year when populist voters reshaped power and politics across Europe and the United States, the world’s wealthiest people were ending 2016 with $237 billion more than they had at the start. Triggered by disappointing economic data from China at the beginning, the U.K.’s vote to leave the European Union in the middle and the election of billionaire Donald Trump at the end, the biggest fortunes on the planet whipsawed through $4.8 trillion of daily net worth gains and losses during the year, rising 5.7 per cent to $4.4 trillion by the close of trading December 27, according to the Bloomberg Billionaires' Index. “In general, clients rode through the volatility,” said Simon Smiles, chief investment officer for ultrahigh-net-worth clients at UBS Wealth Management. “2016 ended up being a spectacular year for risk assets. Pretty remarkable given the start of the year.” The gains were led by Warren Buffett, who added $11.8 billion during the year as his investment firm, Berkshire Hathaway Inc. saw its airline and banking holdings

soar after Trump’s surprise victory on November 8. Buffett, who’s pledged to give away most of his fortune to charity, donated Berkshire Hathaway stock valued at $2.6 billion in July. The U.S. investor reclaimed his spot as the world’s second-richest person two days after Trump’s victory ignited a year-end rally that pushed Buffett’s wealth up 19 per cent for the year to $74.1 billion. “2016’s been event-driven with global news driving prices rather than fundamentals,” president of Ascent Private Capital Management, which has about $10 billion of assets under administration, Michael Cole said. “The belief that Trump is going to come in and deregulate big parts of the economy is driving the markets right now.” The individual gains for the year were dominated by Americans, who had four of the five biggest increases on the index, including Microsoft Corp. co-founder Bill Gates, the world’s richest person with $91.5 billion, and oilman Harold Hamm. The country’s richest were largely opposed to a Trump presidency

POLICE FOIL PLAN TO BOMB THIRD MAINLAND BRIDGE, ARREST MASTERMIND fighters gave themselves up to the authorities in southern Niger. Minister Mohamed Bazoum said 31 young people from Diffa, who were enrolled a few years ago in Boko Haram, decided to surrender. The fighters arrived in the remote desert town of Diffa in groups and were being held by

local authorities. “I learned that the first who surrendered was not arrested, and I surrendered. “We expect a pardon from the government so that we can participate in the development of the country and help us get rid of the trauma,” a former Boko Haram combatant told journalists.

In June, tens of thousands of people fled Diffa as Boko Haram swept the region. However, five Nigerien soldiers were killed by the militants near Diffa in September. It was not clear what would become of the ex-Boko Haram fighters, but authorities said there was the possibility of reintegrating

them back into society. A security source told Reuters that a meeting was planned for Wednesday in Diffa to discuss “the conditions of surrender”. The source did not provide further details. Boko Haram has killed over 20,000 people and displaced more than 2 million since 2009 in an

THURSDAY, DECEMBER 29, 2016 • T H I S D AY

NEWS

News Editor Davidson Iriekpen Email davidson.iriekpen@thisdaylive.com, 08111813081

Airline Operators Threaten to Suspend Flights over Obsolete Landing Aids Chinedu Eze Airline operators have threatened to suspend flights pending when the government would provide modern landing aids that would enable them fly with minimum visibility as obtained in other countries, including West African nations. They berated the federal government for its failure to provide modern landing aids that could facilitate flight operations when there is harmattan and hazy weather and lamented the huge losses they incur due to inadequate supply of aviation fuel and flight disruptions at the peak of the Christmas holidays. The airlines said the Nigerian airports still have category one visibility rules of 800 metres,

which makes it unable for airlines to operate during the harmattan westher, but small and less developed countries like Togo, Benin Republic have category two visibility rules because they have the landing aids that can enable flights to land even in less than 200 meres visibility. The operators also complained that 50 per cent of their flights are cancelled due to lack of aviation fuel, inadequate infrastructure, like airfield lighting and bad weather that could be managed with better navigational equipment, so the airlines lose money and the passengers activities are disrupted. The Chairman of Airlines Operators of Nigeria (AON), Captain Nogie Meggison,

made this known yesterday during a press conference in Lagos, saying many of the airlines have grappled with suspension of operations due to the difficulty they go through and the failure of government to take action to rectify these problems. Meggison noted that exactly 48 years yesterday on December 28, 1968, the first aircraft operated at category three status in zero visibility at Heathrow Airport in London, yet Nigeria is unable to land aircraft with visibility of about 800 meters. “Most international and

local flights had to be diverted to Cotonou last Tuesday night), which is rather unfortunate. The issue of the harmattan is a yearly seasonal occurrence as Nigeria has mainly rainy (thunderstorms) and dry seasons (harmattan). “If the world has been landing in zero or virtually no visibility since December 28, 1968, yesterday 48 years later on December 28, 2016, on the anniversary of the first category three landing at Heathrow Airport, London, Nigeria still can’t land with 800 meters of visibility?

“Why are the navigation aids not working or upgraded over the years? Why is there no solution to this issue after 40 years of the airlines crying out? “It is rather shameful that today, in the 21st century, we are still talking of operating at CAT l and unable to land at 800 metres at our airports,” he explained He disclosed that for the past three days, the Murtala Muhammed International Airport in Lagos was shut down until 6p.m. before flights could land. Hence no airline could fly and passengers were

delayed with colossal loss of revenue to the operators. “This is very unfair to operators who cannot charge passengers for the extra cost the airline has to bear on return or cancelled flights and we have to feed and lodge them in a hotel. The Nigerian Airspace Management Agency (NAMA) and the Federal Airports Authority of Nigeria (FAAN) need to be more responsible to ensure that our airports are equipped with the right landing aids to allow 24hours operations in any weather condition,” Meggison said.

Nigeria will Not Let You Down, Buhari Assures Guinea Bissau Tobi Soniyi in Abuja President Muhammadu Buhari yesterday said as the Chairman of Economic Community of West African States (ECOWAS) Contact Group on Guinea Bissau, he would do his best to ensure that the country did not relapse into crisis. The Senior Special Assistant to the President on Media and Publicity, Mr. Garba Shehu, said Buhari gave the assurance while receiving the Prime Minister of Guinea Bissau, Umar El-Mukhtar Sissoco-Embola, at the State House in Abuja. The president expressed satisfaction on the gradual return of normalcy to the West African country. Assuring the visiting Prime Minister of Nigeria’s

continued support to political stability in Guinea Bissau, Buhari urged the leaders to work hard to reach a lasting solution to the political crisis in the country. The president congratulated the new Prime Minister on his appointment and urged him to put the interest of the country and its people ahead of everything else. In his remarks, SissocoEmbola described Buhari as his role model, adding that his country would continue to thank the government and people of Nigeria for standing by them in their moment of crisis. He also pledged his country’s commitment to improved ties with Nigeria.

Pay Backlog of Our Stipends, Ex-militants Tell FG The Ijaw Youth Council (IYC) yesterday called on the federal government to pay the backlog of stipends owed ex-militants. The council’s spokesman, Mr. Eric Omare, made the call in a statement made available to newsmen in Warri, Delta. Omare said the IYC was not happy with the disposition of Gen.Paul Boroh (rtd), Coordinator of Amnesty Programme toward facilitating the release of the stipends from the government. He said Boroh had attributed the delay in the payment to the Treasury Single Account (TSA) policy of the government. “Niger Delta ex-militants under the amnesty programme are being owed five months arrears of stipends,’’ he stated. The spokesman said that the non-payment had subjected the ex-militants to untold hardship and `miserable’ Christmas celebration.

“We also call on the National Security Adviser (NSA), Gen. Babagana Munguno, under whose office the amnesty programme is domiciled, to take steps to immediately effect the payments to avoid unnecessary hostility,” he said. However, in an interview with the News Agency of Nigeria (NAN) earlier, Boroh reassured the ex-militants of payment of the stipends, urging them not to be agitated by the delay. According to him, the federal government is aware of the pains the ex-militants are going through and will ensure that they get their stipends soon. ”I am assuring all beneficiaries under the programme that arrangements are being made to fast-track the payment of their stipends as soon as the Amnesty Office receives its allocation,” Boroh had said.

WELCOME TO NIGERIA R-L: President Muhammadu Buhari; Prime Minister of Guinea Bissau, Umaro Sissoco Embalo; and Mamadu Jalo-Dgab during the prime minister’s visit to the president at the State House in Abuja....yesterday

FG Builds Mental Health Clinics in All Senatorial Zones Amby Uneze in Owerri The federal government in the 2016 budget appropriation made provision for the construction of one mental health clinic in each senatorial zone of the country, as the ones sited in the South-east atates have been awarded for purposes of simulating fast recovery of psychiatric patients if they are treated closer to their environment. Disclosing this fact during the inaugural zonal meeting of community mental health project officer for the Southeast zone held in Owerri, the Medical Director of Federal Neuropsychiatric Hospital, Enugu, (FNHE), Dr. Jojo Onwukwe, revealed that records showed that over 9,000 psychiatric patients were recorded in the institution within the last five years.

He said about 2,000 patients are brought to the facility annually for treatment. He noted that it was more cost effective and easy to adapt to the environment and reduce stress if patients are brought a health facility that is closer to them. “We looked at the disadvantages of crowding patients in a hospital, it takes them at least two weeks for them to adapt the new system in the hospital, but when they are treated in a mental health facility closer to them, it makes them feel they are still within their immediate environment.” He said: “It is better to treat them in their localities. Research findings show that those treated within their immediate communities recovered faster than those taken far place. It is now global issue to decentralise the mental health facilities than

to have one central place that cannot afford the patients recover faster.” According to Onwukwe, the zonal meeting are divided into two prone stages: advocacy and awareness, and construction of mental health clinics attacked to primary health centre (PHCs) in the South east. He maintained that the advocacy and awareness angle became necessary in order to draw attention of effort of the federal government towards handling of cases of mental health issues, while construction of facilities had already taken off which is entirely done by the federal government. In his remarks, the Consultant for the Mental Advocacy and Awareness Programme, Dr. Ejike Oji, said the prevalence of mental health is reported at 20 per

cent, noting that one facility is equal to 1.4 million patients compared with its equivalent figure in Europe which stands at one facility to 1,000 patients. He observed that it was for the demand that created the need for more and closer mental health facilities, adding that it was to ensure awareness for mental health services that FNHE felt everyone has access to quality health care. Welcoming stakeholders to the meeting, the Medical Director, Okparavero Memorial Hospital, Sapele, Dr. Chijioke Kaduru, said mental health often does not receive due attention, even though it was a major issue. He decried the situation where mental health is completely excluded from key health sector documents and probably remained underfunded.

THURSDAY, DECEMBER 29, 2016 • T H I S D AY

NEWS

SERAP Asks EFCC to Probe Missing N500m Chibok Safe School Funds The Socio-Economic Rights and Accountability Project (SERAP) has petitioned the Chairman Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, requesting him to “urgently begin a thorough, transparent and effective investigation into allegation that N500 million Safe School funds for Chibok girls, inaugurated by former Minister of Finance, Dr. Ngozi Okonjo-Iweala, to rebuild the Government Girls School in Chibok, is missing and cannot be accounted for.” The organisation urged the EFCC to “invite for questioning as well as name and shame anyone suspected to be involved in the alleged diversion, including the contractors allegedly handling the project.” In the petition dated December 27, 2016, which was signed by SERAP Senior Staff Attorney, Timothy Adewale, the group said: “The allegation that N500million has been lost to corruption resulting in denying the girls access to education, and shows the failure of the former President, Dr. Goodluck Jonathan government to live up to Nigeria’s commitments under the global Safe School Declaration.” The petition reads in part: “SERAP believes that the diversion of the funds will expose the school to

attacks in the future. This is a fundamental breach of the country’s obligations including guarantees of nonrepetition, which contribute to prevention and deterrence of future attacks. “SERAP urges the EFCC to work with the Independent Corrupt Practices and other Related Offences Commission (ICPC) to set up a mechanism to monitor government’s spending of the safe school funds in order to ensure that the funds are spent exactly to prevent and deter future attacks, and to allow the girls to go back to school as soon as possible. “SERAP is seriously concerned that the school has remained in a state of disrepair since the abduction of the girls, and students have remained at home. “SERAP is concerned that the alleged diversion of N500million meant for reconstruction of Government Girls School in Chibok has directly violated the right to education of the girls, as guaranteed under the International Covenant on Economic, Social and Cultural Rights to which Nigeria is a state party. “The diversion has undermined the obligation of the government to take step to the maximum of its available resources to achieve the right to education. The alleged diversion also

INEC Takes Voters’ Education to Carnival Calabar Bassey Inyang In Calabar The Independent National Electoral Commission (INEC) yesterday took its voters’ education to the 2016 Carnival Calabar by floating a band through which it conducted its enlightenment programme. The dominant message of the INEC band was the need to preserve their Permanent Voters’ Cards (PVCs) for the purpose of voting in future elections. The Administrative Secretary of INEC in Cross River State, Mr. Henry Ayom Anor, who led the band said aside from using the voters’ card for voting, it can be used for other official engagements. He said the commission was participating in the annual fanfare because it attracts a large crowd which provides a useful platform to enlighten voters about the programmes of the commission. “INEC is participating in the 2016 Calabar Carnival in order to enlighten voters on the need to preserve their PVCs even when

they are relocating from their abode to another location, because INEC has provided a seamless process for such people to transfer their details to the new location to enable them participate actively during an election or use it for other purposes,” Anor said. He stated that the INEC has observed that some people who registered were yet to collect their PVCs, saying a large number of cards were with the commission. still “Many people, until now, have not collected their permanent voters’ cards, we want to let them know that they can visit INEC local goveremne4t offices to collect their voters’ cards,” Anor said. He stated that the commission would soon commence the continuous voters’ registration exercise to capture those who recently attained the voting age of 18 years so that they could vote in future elections. Anor said those whose cards were missing should go to any INEC office in the states to undergo the process of getting their PVCs replaced.

shows a serious breach of anticorruption legislation including the EFCC Act, and Nigeria’s international obligations under the United Nations Convention against Corruption and the African Union Convention on Preventing and Combating

Corruption both of which the country has ratified. “The EFCC should ensure full accountability and bring to justice anyone found to be responsible for corruption and diversion of safe school funds. The EFCC should also ensure that all proceeds of

corruption are recovered and returned back to the treasury.” “This request is based on allegation by Borno State Governor, Kashim Shettima, that N500 million set aside by the government of former President Jonathan is missing

and cannot be accounted for. The funds were released for rebuilding of the Government Girls School in Chibok under the Safe School Initiative programme, which was inaugurated by former Minister of Finance, Dr. Ngozi Okonjo-Iweala.”

MAKING HEALTHCARE AFFORDABLE

L-R: Sokoto State Governor, Aminu Waziri Tambuwal; Commissioner for Health, Dr. Kakale Balarabe; and Sultan Muhammad Sa’ad at the official launch of the Sokoto Community Contributory Health Scheme in Sokoto....yesterday

Wike Presents N470bn Budget for 2017 Ernest Chinwo in Port Harcourt Rivers State Governor, Nyesom Wike, yesterday presented the state 2017 budget of N470 billion to the state House of Assembly. The 2017 budget, christened “The Golden Jubilee budget, for accelerated development,” is N163 billion (about 53 per cent) higher than the N307 billion budgeted in 2016. A breakdown of the 2017 budget indicates that the total projected capital expenditure is N329 billion representing 70 per cent, while N141 billion, representing 30 per cent, is proposed for recurrent expenditure. Presenting the budget at the state House of Assembly, Wike said: “Rivers State will be 50 years old next year, and to herald this historic landmark, we have christened the 2017 budget ‘The Golden Jubilee budget for accelerated development.’ “This budget is premised on the need to consolidate on our achievements for 2016 and restore the State’s economy back to a sustained growth path and expand economic opportunities for all. “This budget is underpinned by the following basic principles: First, enhancing the business environment, including tackling the security challenges for the private

sector to grow, expand our tax revenue base, and drive our economy through the value chain into becoming one of the largest economies in West Africa “Second, committing a greater proportion of available resources towards infrastructure development and public works to stimulate economic growth, create employment and reduce poverty.” He said priority attention would be given to the following areas in 2017: security of lives and property; infrastructure development and maintenance; education, healthcare delivery, and empowerment. In the 2017 budget, he said the sum of N77, 409,275,000.00, representing nearly 40 per cent of total capital expenditure was allocated to the Ministry of Works to accelerate the development and expansion of infrastructure throughout the state in 2017. The governor noted that N30 billion was allocated to the Ministry of Education for 2017 to invest in providing educational infrastructure and improving the quality of education in the state. The health sector got N27 billion, while that of Women and Youth Development was allocated N1billion for empowerment programmes. Another N12 billion is spread across the budget for women

empowerment. The governor said: “As we have often stated, the days of wasting scarce public resources on frivolities or unviable social and economic programmes are over for good. “We have demonstrated in the last 17 months that focusing on real priorities not only delivers progress but also enables us to do more with less, and we will not deviate from this position in 2017. “Furthermore, we shall continue to encourage, support and attract privatesector investments, both local and foreign, in the diverse sectors of our economy to create well-paying jobs, reduce poverty and improve the socio-economic conditions of our people.” On financing of the budget, the governor said the 2017 budget would be funded with revenue receipts from the Federation Account Allocation Committee (FAAC), the 13 per cent derivation proceeds, Value Added Tax (VAT), reimbursements, Internally Generated Revenue (IGR) and domestic credits. He added: “We are projecting an aggregate sum of N220 billion from FAAC, distributed as follows: N23 billion from Statutory Allocation. N102 billion from 13 per cent mineral derivation fund, N16.6 billion from VAT, N8

billion exchange gain, N70 billion for Paris Club and other reimbursements, as well as N400 million from capital receipts. “We are also projecting to generate an aggregate sum of N168.9 billion from IGR.” Explaining the drive of the 2017 budget, Wike said: “In terms of sectoral allocation, the projections show that N14.160 billion is allocated to the administrative sector; N115.245 billion is allocated to the economic sector, N125.630 billion is allocated to the social sector, while N3.050 billion is allocated to the Law and Justice sector; and N70.915 billion is allocated to special heads. “The unprecedented increase in the capital expenditure, once again, underscores our commitment to direct substantial resources to the critical growth sectors of our economy, including addressing infrastructure gaps to accelerate economic growth, secure the state and improve the wellbeing of our people.” In his response, Speaker of the state House of Assembly, Hon Dabo Adams, said the governor ,by the 2017 budget, has proven that he is committed to the development of the state. He commended the governor for ensuring that the budget covers all sectors of needs in the state.

THURSDAY, DECEMBER 29, 2016 • T H I S D AY

NEWS

N6m Fine: Arik Accuses NCAA of Unprofessional Conduct Nigeria’s largest airline, Arik Air, has accused the country’s aviation authority of “unprofessional” act.

The management of Arik said the Nigerian Civil Aviation Authority (NCAA) acted in an ‘unprofessional’ manner by

Fall of Sambisa Forest: Military Says Boko Haram Used Women, Children as Human Shields Michael Olugbode in Maiduguri The Nigerian military yesterday said Boko Haram terrorists used women and children as human shield to escape from their stronghold during the takeover of Sambisa forest. The head of the military counter-insurgency operation in the Northeast, Maj. Gen. Lucky Irabor, said during a press briefing in Maiduguri that the terrorists could have been over run if not for the women and children they used as shield during the attack on Camp Zairo, in the heart of Sambisa forest, their headquarters. Irabor, who showed the video clips of the aerial attack of Sambisa forest last weekend when the place fell to the Nigerian military, said the Chibok girls could have well be used as human shield by the fleeing terrorists He said: “I cannot tell if the women or children used by the terrorists were Chibok girls or not but definitely we cannot rule that out.” The military leader equally said the expectation of the military was to rescue some abducted persons, especially Chibok girls, during the dislodgment of the insurgents from the Sambisa forest haven, but that all hope is not lost on the rescue of the abducted girls. Irabor further revealed that the military was after the fleeing terrorists and would

soon catch up with them. He said: “There is no hiding place for the terrorists. We are on their trail and we will definitely catch up with them.” The army commander however asked the fleeing insurgents to surrender instead of being on the run, insisting that “there is no escaping the military.” Irabor said during the last one week the troops recovered some arms and ammunition from the terrorists, as he described the war on terror in the Northeast as far from being over. According to him, during the operation in the last one week, they lost four soldiers, and arrested 1,240 Boko Haram terrorists, adding that reports from the neighbouring Niger Republic also said 30 Boko Haram fighters surrendered, among them 24 male and six female. He said during the takeover of Sambisa forest, the Boko Haram leader, Abubakar Shekau, was neither killed nor captured, but that there was evidence that he has been there. Irabor said the fleeing Boko Haram leader left behind his flag, the symbol of his authority and holy book during his flight when the Camp Zairo came under attack by the Nigerian military. He said during the last one week, the operation recovered arms and ammunition, and described the war on terror in the North-east as far from being over.

Cleric Remanded for Allegedly Raping Girl, 5, in Ekiti Victor Ogunje in Ado Ekiti An Ado-Ekiti Magistrate court has ordered a pastor presiding over one of the Anglican Churches in Ekiti State, Gabriel Asateru, 53, to be remanded in prison custody for the alleged defilement of 5-year-old girl. The police prosecutor, Inspector Bayo Ajiboye, told the court that the accused committed the offence on December 23, 2016, at Ifisin-Ekiti. He alleged that the accused, on the said date, unlawfully had canal knowledge of the victim (names withheld by petting her to sit on his

lap. According to him, the offence contravened Section 31 of the Child Right Laws of Ekiti State. He added that he had duplicated his case file and sent to the office of the Director of Public Prosecution for legal advice. The plea of the accused was not taken as his counsel, Mr. Tunde Olayemi, sought a date for adjournment pending the outcome from DPP. Magistrate Modupe Afeniforo who frowned at the incessant cases of rape in the state consequently ordered that the accused be remanded in prison custody. She adjourned the case to February 15, 2017, for further hearing.

publicising the letter detailing the N6 million fine imposed on the airline last Tuesday. In a statement issued yesterday by the airline’s Public Relations Manager, Adebanji Ola, Arik said the letter was publicised before it could respond within the deadline given. The NCAA last Tuesday imposed a N6million fine of Arik Air for contravening the provisions of the Nigerian Civil Aviation Regulations (Nig.CARs). The agency, according to an online news portal, Premium Time, also ordered the airline to pay its passengers, whose baggage were delayed on the London to Lagos route between December 2 and December 4, $150 each as compensation. But in its response, Arik yesterday said it did everything possible to ensure the London passengers got their baggage in good time.

According to the statement, when the airline’s wide body A330-200 aircraft was damaged by a ground handling truck, it deployed a B737-800 on the London route to minimise the disruption to the passengers. “All passengers checking in from London were given a letter informing them of the capacity limitation and weight restriction on this aircraft type and advised that some of their baggage would be delayed because of this and transported on the next available flight with capacity. All passengers were accepted on to the flight based on this understanding. “However, after arriving in Lagos, some of them formed pressure groups and took laws into their own hands, disrupting the operations of the airline, assaulting the airline’s employees and destroying its property,” the statement said. The airline also alleged that some of its employees were

beaten and hospitalised, and that the passengers disrupted its operations. “However, some of the passengers disrupted our operations for several days thereby making it impossible for the aircraft to operate from Lagos and return from London Heathrow Airport before the night curfew, further preventing the short landed bags from being recovered,” the airline said. Similarly, the airline alleged that the Federal Airport Authority of Nigeria (FAAN) security did nothing to prevent the passengers from disrupting the airline’s operations by providing adequate security to the airline and its personnel to enable the flights to leave on time. It added that their actions prevented a quicker resolution in the recovery of baggage. “Some FAAN security personnel were also encouraging passengers to disrupt checking-in

process and seated themselves on top of Arik Air check-in counters,” it said. Arik Air, however, assured its passengers and other industry stakeholders that it would address the issues raised in the NCAA’s letter within the seven days deadline stated in the letter. Meanwhile, the NCAA in its statement last Tuesday said the N6 million fine must be paid within seven days of receipt of the letter while the $150 compensation to each of the passengers must be made within 30 days. “The NCAA expects strict compliance with the provisions of Part 19 of the Nig.CARs by the airline in future,” the agency said in a statement. “This is to assure all stakeholders that the authority exists to protect their rights at all times and as such any violation of the regulation in that regard will be viewed seriously,” Arik stated.

FOR YOUR CONSIDERATION...

Rivers State Governor, Nyesom Ezenwo Wike, laying the state 2017 budget before the House of Assembly in Port Harcourt....yesterday

Boko Haram: Group Urges Nigerians to be Vigilant to Prevent Terrorists from Regrouping Adedayo Akinwale in Abuja The Centre for Social Justice, Equity and Transparency (CESJET) has called on Nigerians to be vigilant and cautious in order to ensure that fleeing members of the Boko Haram sect are not allowed to regroup following the capture of Sambisa forest. In a statement made available to journalists yesterday in Abuja, its Executive Secretary, Ikpa Isaac, said given the desperation with which the terrorists sympathisers have tried to convince themselves that their fleeing members are potent, Nigerians must be cautious to help foil suicide bombers who he described as ‘lone wolf’ attacks by those who would rather kill themselves and take others with

them. According to him, “We appeal to traditional and religious leaders to see now as the moment to scale up the performance of their roles in ending the menace of terrorism which the Nigerian Army, through a decisive leadership, has brought to a halt in Nigeria.” Isaac stated that “even as we call for vigilance from the public, it must be noted that membership of Boko Haram terror group is not written on the face as only security personnel are able to investigate and interrogate suspected persons to determine their culpability. “Nigerians must therefore not hide under the cover of suspected Boko Haram membership or affiliation to lynch anyone or dispense mob justice. Anyone suspected of being a

fleeing Boko Haram member simply on account of the must be handed over to the capturing of Sambisa Forest police. “We further appeal to and the defeat of Boko Haram,” social commentators, especially noting that the inertia of 2009 the online community, to make after the death of Boko Haram analysis based on fact and to founder, Muhammed Yusuf, be wary of amplifying alarmist allowed members of the sect views aimed at sustaining a to flee to other countries where regime of fear in the heart they got training and were of citizens. There is nothing further radicalised. “It is on to be gained from helping this account that any escaping defeated terrorists to achieve terrorists must be apprehended the campaign of fear at which before they exit the boundaries they had failed woefully in the of Nigeria. “We further past.” He therefore urged underscore the importance the security agencies not to of activating the necessary spare any efforts at tracking international instrument down and apprehending the necessary to go after any last of the fleeing terrorists. known Boko Haram suspect “CESJET urges the federal in other countries. This terror government not to slow down group is a cancer that must be activities geared towards the excised to its very roots,” the total eradication of terrorism group noted.

T H I S D AY THURSDAY DECEMBER 29, 2016

T H I S D AY THURSDAY, DECEMBER 29, 2016

COMMENT

Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com

DO WE NEED A NEW POLITICAL PARTY? No Simbo Olorunfemi argues the reason why

ew political parties are emerging from the trenches. The Abundant Nigeria Renewal Party (ANRP) being championed by my friend, passionate patriot and people-oriented economist, ‘Tope Fasua is one of them. We should be excited. Should we not be? Well, there are 40 registered political parties in Nigeria at the moment. Apart from that, as at last week, 60 associations have sought registration, according to the Independent National Electoral Commission (INEC). As an aside, I do not even think INEC has the power to ‘register’ political parties the way it presently does, going by the spirit of the court judgment secured by Gani Fawehinmi on the process of party registration. I would think INEC’s business is to simply ‘list’ and not ‘register’, as it presently purports to do. If that is the case, what business has the commission then in de-registering a political party, as it claims to have done in the case of some parties? That seems to be the point established in the court judgment obtained by Chris Okotie’s Fresh Democratic Party, which INEC has chosen to interprete differently. But that is not even the issue at stake here. This is more of an interrogation of the political logjam we have found ourselves at the moment and the wisdom in setting up of a new political party as the ‘Bolekaja’ to take us out of it. Harold Lasswell tells us politics is about who gets what, when, and how. As power will not simply drop in the palms of one who simply wishes it, the need to actively engage the system and work it to one’s advantage towards the realisation of betterment of the society is of paramount importance. It is in that light that the bold move by Tope Fasua ought to be situated and commended. Obviously, as evident here, the problem with Nigeria is not an insufficiency of political platforms or parties through which one can ventilate one’s political philosophy or actualise the ambition for power. The more the merrier, they say. But any meaningful effort to take on the system cannot simply be about making up the numbers. Our problem, in fact, is the ease with which we take to charting our own course, seeking to singularly take on a new path rather than joining hands to build one house and not dissipating energy in different directions. It is that wanting to go it alone that manifests in the proliferation of worship centres, where one man leaves to set up his own church simply on account of not liking the colour of the pastor’s tie. It is the reason why almost every professional body has multiple voices speaking for it. The Nigeria Labour Congress is broken right through the centre. It is that thing that makes Nigerians lay personal ownership to banks, even when the law does not allow them to own more than a minority stake in it. It is that same philosophy that has taken over the political space where persons now own political parties, which are supposed to be institutions themselves. Political parties are dead on arrival if all that there is to them is the actualisation of the personal ambition(s) of the principal promoter(s). It is counter-productive to have someone who has already declared aspiration for the most important office in the land promote a political party, as its all-inclusiveness and ability to create a level-playing field is already jeopardised by that ambition. Who will stand up in contest against the founder? Will the founder be willing to stay with the party and not complain that it has been hijacked if he were to lose in the primary election? Can there even be a free and fair election where some see themselves as founders and others as joiners? But even as I argue that the problem is not a shortage of political platforms in Nigeria, I can see why more people are seeking to set up

WHAT WE NEED NOW IS TO JOIN HANDS TOGETHER AND FOCUS SINGULARLY ON HOW WE CAN INFILTRATE AND WEAKEN EXISTING STRUCTURES TO THE POINT WHERE WE CAN SUCCESSFULLY FORCE A CONSTITUTIONAL AMENDMENT THAT WILL HERALD, AT THE LEAST, THE BIRTH OF A UNICAMERAL PARLIAMENTARY SYSTEM

political parties. Some genuine reasons can be adduced for such – a loose, yet stifling political space; perpetuation of the same persons and tendencies in politics and government; as well as the increasing urge to look backward by those in power in order to move forward, thus leading to a monotonous recycling of old wine in new bottles and a perpetuation of jaded ideas, packaged in recycled packs. But even with this challenge, is setting up another party the solution? Should we not seek for the root of the problem? Is it in the nature of our political parties? Is it the absence or death of ideology? Is it how we fund political parties? Could it be the lack enlightenment, abysmal level of literacy or other factors? Should we not dig deep or have we done so already? Should we not proceed on the basis of careful retrospection and sober introspection? There is no one answer to the problems, as all the aforementioned are related; but given the nature of the solution being canvassed in setting up new parties, I choose here to zero on what I consider the most challenging problem we are faced with, one I believe that unless we frontally address and resolve, setting up a million political parties will not achieve the set objective of wresting power away from entrenched and vested interests putting power to perverse or ineffective use. The Presidential System, as configured and practised now, is so nebulous and unwieldy that it is almost impossible for an independent voice to emerge on his own strength or platform. That is the problem Okotie and Fawehinmi faced. Same problem confronted a Muhammadu Buhari, even with his millions of devoted followers, until he tucked his dream under the strategic wings enabled by Bola Tinubu. I argue that what we need now is to join hands together and focus singularly on how we can infiltrate and weaken existing structures to the point where we can successfully force a constitutional amendment that will herald, at the least, the birth of a unicameral Parliamentary System. That is our best shot at being able to produce a leader of the kind we are pushing for. The parliamentary system is considerably less expensive for the system and contestants. A Prime Minister/President or whatever we choose to call the head of government has only the task of selling his candidacy, policy and ideas within the party’s collegiate system, which will be akin to a group of Philosopher Kings. All that an Okotie or a Fasua will need is to focus on his constituency and ensure success at that level and with many more like-minds and technocrats winning in the different constituencies, the battle for the right kind of person to emerge as party leader and eventually primus inter pares in the parliament will be a simpler task. It is easier to accomplish than this impossible task of setting up a nation-wide structure, with offices in all the states. It does not require having agents in all the polling booths across the country and collation points to secure votes. The elaborate, expensive requirements expected of an aspirant under the present system makes the emergence of an independent almost impossible. What do we get with the parliamentary system? More accountability on the part of government, fusion of legislative and executive functions, leaner public service and real-time monitoring of activities of government on the floor of the parliament. Also, it is easier to boot out a non-performing government, as a vote of confidence is all that it requires and elections can also be called before the end of prescribed tenure. Olorunfemi works for Hoofbeatdotcom, a Nigerian Communications Consultancy, publisher of Africa Enterprise

THEATRE OF THE ABSURD

Kenneth Atavti argues that the outcome of the panels of inquiry into the rerun polls in Rivers could be predicted

t is not difficult for any discerning mind to know that the Police High Command may have been complicit in the opprobrious outing during the recent Rivers State legislative election rerun. The prelude was not circumspect, especially with the withdrawal of the chief security officer, (CSO) to the state governor, Chief Nyesom Wike. Also withdrawn were policemen from Government House, Port Harcourt. The Police High Command further effected the transfer of 500 senior and junior police officers from the state. As if that was not enough, Chief John OdigieOyegun, chairman of the All Progressives Congress (APC) gave an uncivilised advice to members of his party by urging them to retaliate whatever action from loyalists of the Peoples Democratic Party (PDP) during the rerun election. Odigie-Oyegun who spoke during a mega rally of the party in Port Harcourt, the Rivers State capital, particularly said: “If they push you, push them back. If they slap you, slap them back.” This, among other deeds, provided a leeway for war and explained why the rerun was marred by violence. Deputy Superintendent of Police, Alkali Mohammed and his orderly were beheaded, amongst other killings. Security agents were alleged to have played a big role in the violence that marred the rerun. Apart from the observation of ordinary observers, residents of areas where violence was reported linked it to the attitude of some security operatives on the ground. Some residents even blamed security agents for the incidence of ballot box snatching, and unjustified harassment of voters and party officials, although the

army and the police have denied such allegations. Several PDP members were killed by policemen and SARS personnel. Musa was murdered in cold blood by policemen in Bodo City of Gokana LGA, while Mr Lenee Neebani, Ward 10 Chairman, Khana LGA, abducted by soldiers as he joined other party officials to monitor the movement of materials has died. His widow blamed his death on soldiers. The police who are paid by the taxpayers took sides in the election. Even though the IGP has set up a panel to investigate developments before and during the polls, it has been rumoured in certain quarters that the police may not question Chief Odigie- Oyegun for inciting the electorate in Rivers State to perpetrate violence. The IGP, Ibrahim Idris, has set up a team of detectives to conduct forensic analysis on the audio clips of a phone call purportedly made by Governor Nyesom Wike in respect of the concluded rerun elections. It would be recalled that an online medium, Sahara Reporters, posted audios of phone calls allegedly made by Wike in which the governor allegedly instructed some electoral officials to rig the election. In a particular audio recording, a voice was heard threatening to kill some electoral officials if they failed to carry out the directives for which they were bribed. The team of detectives was also mandated to conduct a thorough investigation into a statement credited to the Chairman, Independent National Electoral Commission, Prof. Yakubu Mahmud, in which he said that 70 incidents almost marred the

December 10, 2016 rerun in the state. The IGP said the team would unmask those who were directly or indirectly responsible for such incidents and bring them to justice. The police spokesman, Donald Awunah, in a statement, called on the Rivers State Government and INEC to avail the investigative team with facts at their disposal and grant them the desired cooperation and assistance to achieve a comprehensive and conclusive investigation. But observers insist that should there be a probe into the rerun elections, it should be done by the United Nations because the army and police have been indicted in the violence that marred the rerun elections. According to CLEEN Foundation, “The way and manner in which the election was conducted is a validation of the outcomes of the Security Threat Assessment report, and justifies the concerns of various stakeholders that the outcome of the election will not reflect the will of the people. There were serious cases of electoral violence orchestrated by the Police, Army and DSS in Ward 3 Bodo community in Gokana and Khana Local Government Area. This led to the shooting to death of Mr. Mbari John MeeBari.” Prince Dayo Adeyeye, National Publicity Secretary, in a statement declared: “It is sarcastic for the IGP, Mr. Ibrahim Idris, to constitute a panel of investigation for the purported ‘threatening phone call’ by the Governor of Rivers State, H. E. Chief Nyesom Wike instead of seeking solution to all the video evidence of the killings and hijacking of electoral materials by the police and

other security agencies with some INEC officials during the Re-run Elections. We therefore urge the IGP to stop embarrassing Nigeria further and immediately bring to book all those seen in these videos committing electoral offenses. It’s suspicious and dangerous for the IGP to overlook these breaches of the Nigerian Constitution and the Electoral Act by his men. Nigerians are waiting eagerly for the actions or inactions of the police in this regard.” However, the Rivers State Governor, Chief Nyesom Wike, has stated that his administration and people of the state would not be a party to the police probe of the December 10 rerun election. Wike who spoke at a victory thanksgiving mass of the PDP at Our Lady Chaplaincy of Catholic Institute of West Africa in Port Harcourt, said the probe on the rerun election had a predetermined goal to indict PDP and commence their politically motivated prosecution. He said: “The police cannot deliberately murder Rivers people in cold blood and turn around to investigate. We are not a party to their so-called panel. We have passed that stage and we cannot fall into the trap of a panel of inquiry. After killing our people, you want us to assist you unravel what? It is the police that killed our people.” The outcome of the rerun probe by the police, negative or positive, will cast a long shadow in the country’s political trajectory. Whether it will obviate the degenerating political situation is a moral question President Muhammadu Buhari’s administration will have to answer. Atavti, judicial editor of Nigerian pilot newspapers, wrote from Abuja

T H I S D AY • THURSDAY, DECEMBER 29, 2016

EDITORIAL THE MOVE FOR REGIONAL INTEGRATION

The South-west regional initiative for cooperation should be encouraged

recent meeting of governors of the South-west states in Ibadan, Oyo State, hit the headlines as it forcefully returned to the front seat of national discourse, the concept of regional integration. Coming against the background of certain political realignment in the country, not a few people ascribed political meanings into the move by the governors. At the end of the meeting, the six governors within the zone said they were seeking new ways of cooperation to better the lives of their people, pledging to work towards a common goal of promoting economic development of the region. No doubt, the reluctance of President Muhammadu Buhari to consider the recommendations of the 2014 National Conference, among which is the progressive dilution of the powers of the centre in favour of the federating units, has made regional integration a pleasing alternative to the much more desired restructuring of the Nigerian federation. The conference had recommended several steps that would devolve many of the responsibilities on the exclusive list to the concurrent list in THROUGH THE PRINCIPLE OF the 1999 ConstituECONOMY OF SCALE, STATES tion as amended so COULD LEVERAGE ON THEIR that state and local AREAS OF STRENGTH AND governments could SUBSEQUENTLY IMPACT appropriate and POSITIVELY ON THE REGION deliver on them for AS THEY MUTUALLY BENEFIT the betterment of FROM THEIR COMPARATIVE their people. Notwithstanding, ADVANTAGES. contiguous states have begun to revive the concept of integration of economies and social services. This, for understandable reasons, has taken regional forms as states within geopolitical zones in the country find that their needs are related and could be collectively met. Through the principle of economy of scale, states could leverage on their areas of strength and subsequently impact positively on the region as they mutually benefit from their comparative advantages. The governments of the South-west states of Ekiti, Lagos, Ogun, Ondo, Osun and Oyo headed in this direction with the establishment, in 2013, of the Development

Agenda for Western Nigeria (DAWN) Commission. It is designed as the institutional and programme management body to midwife the region’s integration agenda by coordinating the delivery of its composite development aspirations. The agenda focuses on mobilising the collective strengths, assets and capabilities lying within the states of Southwest Nigeria, towards achieving sustainable socioeconomic growth and development that would result in high standard of living and improved well-being for the people of the region.

T H I S DAY

EDITOR IJEOMA NWOGWUGWU DEPUTY EDITORS BOlAJI ADEBIYI, JOSEpH USHIGIAlE MANAGING DIRECTOR ENIOlA BEllO DEPUTY MANAGING DIRECTOR KAYODE KOMOlAfE CHAIRMAN EDITORIAL BOARD OlUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

T H I S DAY N E W S PA P E R S L I M I T E D

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOlA BEllO, KAYODE KOMOlAfE, ISRAEl IWEGBU, EMMANUEl EfENI, IJEOMA NWOGWUGWU GROUP FINANCE DIRECTOR OlUfEMI ABOROWA DIVISIONAL DIRECTORS pETER IWEGBU, fIDElIS ElEMA, MBAYIlAN ANDOAKA, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS HENRY NWACHOKOR, SAHEED ADEYEMO CONTROLLERS ABIMBOlA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI GENERAL MANAGER pATRICK EIMIUHI GROUP HEAD fEMI TOlUfASHE ART DIRECTOR OCHI OGBUAKU II DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO

et DAWN only followed the footsteps of BRACED, an acronym for the six South-south States of Bayelsa, Rivers, Akwa Ibom, Cross Rivers, Edo and Delta. Set up in 2009, by the six states’ governments who agreed to collectively pursue economic cooperation and integration with the sole objective of accelerating the development of the region, the BRACED Commission was established to drive the process of economic cooperation and integration among the South-south states. The compelling argument of the developers of regional agenda is that it would leverage repressed communal assets, talents and resources located within the region, by side-tracking limitations placed on the country by the inchoate Nigerian federalism. We cannot agree less with this concept. Given the nebulous nature of the nation’s federal system, regional integration and cooperation has become a development imperative, since it prescribes an alternative road map for achieving social and economic development, in the hope that successful models and best cases could evolve which could be copied or replicated across zonal boundaries. This way, duplication of efforts among states would be reduced, providing the basis for more efficient coordination. With states reaping economies of scale, expanding their markets and collectively exploiting their resources, we think the chances are that the region’s economy would be strengthened, holding out hopes for the fast-tracking of Nigeria’s development process as positive competitive regional initiatives and actions across the country thrive. Our charge to the promoters of this concept, however, is that they should quickly go beyond seminal pronouncements and take concrete actions that would translate the idea to practical reality.

TO SEND EMAIL: first name.surname@thisdaylive.com

Letters to the Editor

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

THE RISE AND IMMINENT FALL OF MMM `

bout six months ago, I was engaged in a discussion with a childhood friend who occasionally asks me for investment advice. After discussing my view on the near term outlook of the exchange rate, he cunningly asked for my opinion about an investment scheme currently making the rounds. “By the way,” he said, “have you heard about MMM”? I responded that I had not and that the name did not sound like that of a credible organisation. Certainly, I would not name any business of mine MMM, but then that is me. He chuckled and urged me to look up the investment scheme and give my thoughts as soon as possible. When he spoke about MMM, the enthusiasm in his voice was infectious; as he walked away, he had a spring in his steps and was smiling to himself like someone who had discovered a hidden gem. I went online to read about MMM and came across a plethora of materials and discussions. Many people had invested in the scheme and many more people were investing or considering investing in the scheme. As I continued reading, I identified several fundamental flaws in the investment scheme and it made me wonder why the scheme had caught on as much as it did. Afterwards, I called my friend to discuss my findings and tried to convince him not to invest in the scheme because I believed there was no business case to sustain the model. For those who do not know about MMM (highly unlikely that you have not heard about it except you live under a rock where

the gospel of MMM is yet to reach), permit me to provide a brief background. MMM is an online platform that thrives on the logic of giving and receiving help. It allows a user render help to people (similar to giving a loan) with the promise of repaying the principal plus a 30% interest in a month. Whilst the platform has a few other intricacies, the idea is basically about giving and receiving help at an attractive rate. The scheme was developed by a Russian billionaire, Sergei Mavrodi who was jailed having caused turmoil in the financial system of his home country some two decades ago. Many people went bankrupt and a few committed suicide after his “overnight make me rich scheme” went bust. Mavrodi declared MMM bankrupt on December 22, 1997, subsequently disappeared, and was on the run until his arrest in 2003. In 2007, Sergei Mavrodi was found guilty in a Russian court of defrauding millions of investors of 110 million rubles ($4.3 million). Over the years, Sergei Mavrodi has modified the scheme and has introduced it to several countries around the globe – particularly emerging and frontier markets (including our dear own Nigeria). Suffice to say, MMM will go bust one day, the question is when? Furthermore, the business model is not sustainable. I kept trying to figure out whether MMM invests in businesses that generate returns. If otherwise, where does the 30% interest that the scheme pays come from? According to the theory of “Zero-sum game” – one person’s gain is a loss to another. This means that someone must pay for the free lunch – if not you,

then those coming after you. Have you taken time to ask yourself “What is in this for Mr. Sergei Mavrodi of MMM”? “How do the operators make their money? What is the value being created that generates the extra interest being paid”? There are clearly more questions than answers. The Security and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have issued a scam alert on MMM and the House of Representatives has constituted a “committee” to investigate the scheme. Whilst we await the outcome of their investigation, we should remind ourselves about some basic tenets of investing - is it sustainable? Sustainability is not about if someone has made money from it, it is about if people will continue to make money from it. A scheme that gives you money without receiving any value in return is a scam. Lastly, why will someone pay you 30% monthly for investing? This is equivalent to 360% annually (simple interest) and 2230% annually with compounding interest – this is ridiculous and unsustainable. Even if the past is not a perfect predictor of the future, it remains a good guide. Remember that all earlier Ponzi schemes have failed – Nospecto and the popular Wonder Bank schemes happened in the not so distant past. They once seemed like the real deal and many people made money from them. They spread like wild fire but went out with a great bang. When these schemes fail, they do so spectacularly, the attendant losses are much greater than the gains and the longer they last, the deeper the holes they create. Olalekan Olabode, CFA olabodel@yahoo.com

THURSDAY DECEMBER 29, 2016 T H I S D AY

T H I S D AY THURSDAY DECEMBER 29, 2016

T H I S D AY • THURSDAY, DECEMBER 29, 2016

POLITICS

Group Politics Editor Olawale Olaleye Email wale.olaleye@thisdaylive.com 08116759819 SMS ONLY

PERSONALITY INTERVIEW

Nyerere: PDP Died with 2015 Elections Chief Anyim Chinenye Nyerere, the first National Vice Chairman of the All Progressives Congress for South-east, was a member of the party’s merger committee and eventually its governorship candidate in the 2015 elections in Abia State. In this interview with Amby Uneze, he expressed displeasure at the pace of development in the state and why the Peoples Democratic Party could be considered dead in the South-east region. Excerpts: What’s your overview of the Abia State politics in recent times having been a major player in the politics of the state? If you follow the story of Abia State politically for the past 16 years plus, we have a party that has been in power, which is the Peoples Democratic Party (PDP). Except for few years of Peoples Progressives Alliance (PPA) which was an arrangement with the PDP, otherwise it was the PDP all through. The state of the state is an apology. If you come to the real election and politics, it is a fact that PDP had never won any election in Abia State. They manipulate and maneuver their ways into power. That is our story. And that is the reason why nothing has worked in Abia State. If you go there now, you will observe that nothing is working. They always had excuse to give. And one of those excuses which is now making the world to know the stuff they are made of is what is presently playing out in the state. A year plus after the election, Abia state is still in court over election matters. The pitiable thing there is that it is not with opposing parties but within the PDP family. So, what are we saying? That about two years after the election when other states are giving account of what they are able to do for their people, our own state is still going through court for an intra-party matter, candidacy of PDP is what we are still suffering from now. That is to tell you that it is another ploy to deceive us, to give the people of Abia State the reason why they could not work. So what we are suffering in Abia state is the PDP illness and that is why the state is in a comatose. Go to all the nooks and crannies of Abia State, it is the same story and the reason is that PDP is in court. That is the situation we find ourselves in Abia State. It is very pitiable. What then is that message you need to pass across to the people for a better choice of leaders in future elections? The Bible says my people perish for lack of knowledge. The myopic political tendency of my people in Abia State was what made us to remain where we are presently. They never saw any other thing good apart from PDP, even the party that had not benefited them for the past 16 years it had remained in power. All they were after was the ‘zombish’ kind of attitude. They have refused to look back. When we came with the message of ‘change’ which other parts of the country embraced, we were called names, cajoled and ostracised, but today we have been vindicated. The Bible says that you shall know the truth and the truth shall set you free. The truth is that there is nothing more PDP can offer Abia State after 16 years of inglorious administration. Leopard must always have spots. So there is virtually nothing you can expect them to do now. They cannot do magic. The evil that befalls a people is when you keep on voting the wrong people into power. We are praying God will liberate us. People are seeing the realities of the situation. Their eyes are now open to see the truth. For they have seen the difference between the chaff and the grain, so they are having a rethink. That is why we are having people from all over the state coming to join us. Naturally there will be a sieving to separate those who really want the change and those who are coming to join the bandwagon for the benefit of it. But one good thing they will realise when they come in is that we don’t share money. It is not business as usual. We are a party that is there to bring

in our sister state, Anambra.

Nyerere...PDP can’t be resurrected

about that desired change in the country and in Abia State in particular. How do you describe the recent joining of APC by former Governor Orji Uzor Kalu? The joining of APC by the former governor of Abia State, Dr. Orji Uzor Kalu is a welcome development. There is no way you will talk about great politicians in Nigeria without mentioning the name of Dr. Orji Uzor Kalu. Politics is

We don’t need to be told. What happened in 2015 because our people were still nursing the belief that they were still in power and when they saw the emptiness of what they had they had no choice than to follow the right path of progress? And when you are talking about the PDP, which of the PDP are you talking about because to me PDP died with 2015 election and their shadow cannot be resurrected

dynamic and that is why when we saw him coming to be part of the change mantra, we were happy. He is like a big fish. We welcome him. We should not allow such a political big wig to slip pass like that. So we appreciate his coming and it is a welcome development. And the likes of him too (very soon you will hear their names) are also coming to be part of the APC family because the party is not structured around individuals. It has her political vision and agenda. It is not built around any single person(s). Those coming in have to be part of the system first, learn the norms, vision and then flow with the party. So, we are happy we have him in our party and his likes too that are coming. Recently, your party set up a committee for the sole purpose of capturing Anambra State in 2018. As a key member of that committee, what is your vision on the state cum the South-east? The last election in Anambra State where our candidate, Dr. Chris Ngige, the present Minister of Labour lost to APGA was one election that I still feel there were some political miscalculations on our own part that made us to lose an election that was already in our kitty notwithstanding the incumbency factor in the state as at then, though I don’t dwell in the past. One of the official assignments APC did as a party after its registration was the registration exercise of members in Anambra State, which I handled as the National Vice Chairman, South-east of the party. Within three days we registered 280,000 people and more people were still yearning to be registered because they wanted this ‘change’. What we are trying to do now is to rekindle the lost glory; to recapture what we taught should have been ours. That is why we are going back to Anambra to resurrect XY members, who may have been wronged. To still remind them that they are part and parcel of the ‘change’ and that they would not be left out in the scheme of things. It is very pertinent that we go and oil the wheel of ‘change’ that would soon flow

Do you think it is possible for APC to capture more states in the South-east? Our people – the Igbos, the South Easterners were misled to seeking help where there was none. You can agree with me that the 16 years of PDP leadership nationally had little or no impact on the entire South-east region. Our roads, the federal roads in particular, were not given any attention. Nothing of federal presence was attracted to the South-east within this period, not minding our own sons and daughters that were part of that government. I don’t know how long a people will stay under political servitude and they will learn their lesson, and that is why within a year and half of APC leadership in Nigeria, the benefits that are coming to South-east had never been experienced in the 16 years of PDP leadership in the zone. In as much as it is not yet uhuru for us, there is hope, there is great expectation. Look at the second Niger Bridge in Onitsha which is hub/link connecting our own people to the rest of the world. Nobody cared even when we claimed that our own people were in charge. I think we are all realising it late that the regime of 16 years were nothing to write home about. We don’t need to be told. What happened in 2015 because our people were still nursing the belief that they were still in power and when they saw the emptiness of what they had they had no choice than to follow the right path of progress? And when you are talking about the PDP, which of the PDP are you talking about because to me PDP died with 2015 election and their shadow cannot be resurrected. Are you saying under the APC, the South-east is faring better in terms of infrastructure, etc? Yes. I talked about the second Niger Bridge. What the Igboman or South Easterner wants is an enabling environment to thrive, to expand and to succeed. God created us not to be dependent on anybody, but we gathered all our eggs in one basket. This time around the APC government has programmes and projects that are sincerely geared towards improving the lot the South Easterners. Remember I told you that it is not yet uhuru, we are not there yet. There are so many expectations. The bad roads in the South-east that were abandoned for the past 16 years are yearning for serious attention and this government has promised that something would be done about them. The various youth empowerment programmes which the present government has rolled out will definitely benefit our people. We will not be left out in the scheme of things. In the present government, we have some prominent Igbo sons, who are in position to defend the South-east and not for their own selfish aggrandizement. What we are saying is that give us the next four years and you will now be in a better position to compare the wasted 16 years of PDP and four years of APC. From all indications, it still appears that the South-east is experiencing marginalisation under the APC government, given the number of Ministers and other zero appointments at the federal level. Don’t you think all is yet not well with APC in the zone? It is not about the number but about the quality of who you are sending. During the last administration, we had so many of our people in government, what did it translate to CONTINUED ON NEXT PAGE

T H I S D AY • THURSDAY, DECEMBER 29, 2016

INTERVIEW

Maeba: APC Should Not Destabilise Rivers State As the controversy over the December 10, 2016 rerun elections in Rivers State continues to rage, a former two-term Peoples Democratic Party senator from Rivers South East, Senator Lee Maeba, in this interview with Onyebuchi Ezigbo, put the blame for the violence that enveloped the state at the doorsteps of the ruling All Progressives Congress. Excerpts:

he Rivers State re-run elections was like a war. Why was there so much acrimony? Rivers State is a PDP state. Anyhow you look at it – it is not a swing state. There were a lot of misinterpretations after the 2015 general election. They said former President Goodluck Jonathan used the Army to intimidate the voters to vote for the PDP. Later the election tribunal nullified almost all the National Assembly and House of Assembly seats in the state and ordered a rerun. After much ado, there was a rerun on March 19, 2016. This time around Jonathan’s army had left and President Muhammadu Buhari’s army came and we still swept the polls. We won everything. APC won nothing. The leadership of APC could not win even their unit, talk less of ward. I think that caused a lot of political shame in Abuja. The results of the elections were kept on hold till 10th of December. By the 7th of December, in what was called APC mega rally in Port Harcourt, 12 APC governors came to campaign for a rerun election in units of constituencies, not the entire constituencies. They came here and insulted Governor Nyesom Wike, calling him names. Some of them from the North even spoke in Hausa and told the Hausa in Rivers State to start a jihad against the governor. So, what do you call that? A lot of governors that their performance in their state is zero came here to assault our governor. Yet many of these governors run their states with resources from Rivers State. So, when they stood at the Port Harcourt stadium to abuse the governor, they were actually courting trouble. If they had been attacked by the people, they would say Rivers is full of violence. The question is: Why do you give truckload of soldiers and policemen to APC politicians to go and rig elections. In a democracy, do you need to militarise the polity to win elections? If you feel your leader does not have the popularity to win election, at what point as a party do you sit down to change leadership? So, looking back at the whole thing – 28,000 policemen, 6,000 soldiers, Airforce, marine, road safety corps and other security agencies amounting to 30,000 troops to secure a rerun election at a time of economic recession? Where did they get the money for that? And what was that for – to rig the election for APC? For instance, in a place like Rivers South East senatorial district, where Magnus Abe purportedly won the election, there was no election in Khana; and in Gokana, as they were finishing and about to collate results, the SARS (Special Anti-Robbery Squad) came and seized the results. In Bori, the military made a barricade at Wiya Khana junction, and hijacked all the results for the district and took to hotel. The hotel was heavily guarded by the military. Not even in Sarajevo have I seen such a military blockade before. It was in that hotel that they concocted the results they declared for Abe. In Khana Constituency 2, where I was the collation agent, there was no voting in any of

Maeba

the eight wards. And when I tried to leave my house for the collation centre, I was told by soldiers that they had instructions not to allow me leave my village. I called the Resident Electoral Commissioner to complain that there was no voting going on. He said he would call me back. He never did. Interestingly, the collation of results for Andoni Opobo was completed and announced 24 hours after Magnus had been announced as winner of the election. But the PDP was accused of the same thing when it was in power. No, there was no APC here when the PDP was in power. Rivers State was a PDP state. It was a one party state. Amaechi, Magnus, all of were all in PDP. And in a one party state, there is no how you could win an election in Rivers, no matter how many times you do it under PDP. It was not possible. They broke away from PDP and went to APC. I am sure you heard Amaechi when he said: when we were in PDP we normally write results. Now let us vote. On March 19, Governor Wike said everybody should go and do dry voting, one man one vote. He said he wanted to test his popularity. He warned the youths that he would not bail out anyone caught in the art of violence. He said anyone caught perpetrating violence would go to prison. And that is where we stand. And that was where the PDP stood. Now, it is APC versus PDP, a two-party system. Everybody knows the type of peculiarity we had between SDP (Social Democratic Party) and NRC (National Republican Party). That is a repeat of what we have. So, we came out to

vote but they used the military to write results, saying that was what was done under PDP. This is a naïve thing to say. It is like driving against the tide. So, is Buhari now saying APC should militarise the state because PDP once militarised the state? That is the most naïve thing to say. And I believe there was no election in our senatorial district. We thought they would cancel the election but Mr. Magnus has been sworn in as a senator. And so we looking forward to go to the tribunal to prove that there was no election. In our place, if you think you are APC and you are popular, come and vote and not write results. Jonathan did not write results. If he wrote results, he would still have been in office. He had presidential powers, in fact more powerful than Buhari because he had money. So, all this story of what the PDP did when it was in power is out of other. But the PDP still won two of the three senatorial districts elections. Don’t say PDP won. Anywhere there is free and fair election in Rivers, PDP will win. Let me tell you why. By 2019, the APC would have lost the 20 per cent popularity it has now in Rivers because Governor Wike is working. He is being hunted. He knows that the only grip he has is the people; and the only way you can stay close to the people is to work for them. The road coming from the East-West Road to Bori and Ogoni land was last constructed in 1959 by the colonial administration. Wike is reconstructing the road now at a whooping cost of N10 billion even in a recession. He awarded the contract to one of the best contractors in the world. If you go into Ogoni

land, projects litter everywhere. The man is transforming Ogoni land. He has immortalised Ken Saro-Wiwa by naming the Polytechnic Bori after him. He is doing landmark things that nobody has ever done before. He is doing the same thing in Port Harcourt. Bad roads are all gone. He is taking giant strides in health, education, road construction. And so the APC is worried that if there is no state of emergency, there is no way they can remove the governor. My question is: Amaechi has nothing to contest for in Rivers State again unless he wants to go the House of Representatives or Senate. He cannot contest to be governor again. So, at what point do you support the governor in power because we all supported him when he was in power? He took my Senate seat from me by force in 2011. I did not say a word against him once because I believed it was politics and that before you go the Senate, there must be Rivers. I did not fight back. So what is he actually fighting for now? He wanted to put a successor. Yes, every governor would want to put in a successor, but he failed. Jimi Agbaje contested election in Lagos and conceded defeat and went to court. I am not sure Jimi has spoken about Ambode since then. In Rivers, you see the failed APC candidate abusing the governor every day. And he is an employee of the federal government. And I am sure the president is listening to him every day. Amaechi is Minister of Transportation. If you are not working with the governor, how will your ministry do anything for the state? There is only one authority in a state, and that authority is the governor. In the build up to the election, he boasted he would bring the military – to do what? To destabilise a state that has fed you? He was Personal Assistant to Governor Peter Odili, Speaker for eight years and governor for eight years. So, he has been fed for about 20 years of his 50 years life-time by Rivers State. So, at what point do you become a statesman? At what point do you play to the gallery? If it is not about him but the state, everyone would have called for calm after the election. And I think the state is too strategic for the way they are treating it. It has the biggest gas terminal in Bonny. It is in Rivers State. About 70 per cent of oil pipelines traversing the Niger Delta starts and ends here. The state produces 60 per cent of the nation’s oil revenue. And you are joking with that type of state because you want to massage your bruised ego. The Inspector-General of Police that sent 28,000 policemen to rig elections in Rivers is sustained by the state’s resources. So, they should not precipitate crisis that could destabilise the state and have viral impact on the Niger Delta. The Delta is boiling, Rivers is calming down. Amaechi is doing everything to stimulate crisis in the state. Why has the president not called him to order? Mr. President should call him to order. Time for politics is over; it is time for governance.

OKECHUKWU: BUHARI WON’T SELL PROFITABLE ASSETS in terms of development in our area (zone)? We have in the five South Eastern states ministers with portfolios who we are hoping would do something that would be of immense benefit to the South-east. The issue of marginalisation doesn’t come in because marginalisation starts with ‘us’. We first of all marginalised ourselves by singing the chorus of marginalisation. If you refuse to marginalise yourself nobody marginalises you. I want you to look at who we are – the Igbos after the civil war – if we were singing the chorus of marginalisation, we will not be where we are today. We are a peculiar people that God had destined to succeed. We don’t fold our arms.

All we are telling the federal government to do is to provide us with the environment conducive for us to thrive. Our business will go on. So, I hate to sing that chorus of marginalisation which we have been singing over the years without any help. We should rise up to the challenges and take our destiny in our hands. Thank God the Igbo are thinking inwards now. What made other places like Lagos, Abuja, Kaduna, etc are the immense contributions of Igbos in those areas, who developed them and left their own places? But today they are trying to think home-ward. If we put one-tenth of the development we did in other major cities of the country to South-east, we will have developmental explosion in our zone. If we could survive with twenty pounds

after the war, why can’t we do miracle with the opportunities we have at our disposal now? Nigerians are saying President Buhari is always associated with hardship, considering his days as a military head of state, and now, recession which was not known under the previous regimes has been introduced. What is your take? I don’t believe that. My people used to say that it is not when you cut the plantain that it dries up. Already, this country has been going through serious recession but was covered up cosmetically by the past administration because the realities were not made known to us. You can’t imagine the rot of 16 years that was swept under the carpet and somebody exhumed it,

because there is no way you can continue to deceive people and build on faulty foundation. What the present administration under the leadership of President Muhammadu Buhari did was to say it shouldn’t be business as usual. If not so, there wouldn’t have been need for the ‘change’. Let us for once tell Nigerians the truth so that they can see the realities of the situation. Let’s clean up the mess and structurally put the country in a better foundation economically because we were falling apart, otherwise, it would have been a total collapse. By so doing, we must not fail to feel some pain or hardship. Those are the realities of the present situation in the country and that makes it different from the past.

THURSDAY, DECEMBER 29, 2016 • T H I S D AY

FEATURES

Acting Features Editor Charles Ajunwa Email charles.ajunwa@thisdaylive.com

National Theatre: To be or Not to be? The National Theatre has been mired in controversy over the concession of the 40-year-old edifice located in Iganmu, Lagos. Adedayo Adejobi who spoke to all the parties involved, writes on the controversy surrounding the national monument

ackground to National Theatre’s dramatic concession bid… National Theatre, Iganmu, Lagos, since 2002, is back in the news, because of successive governments’ plan to give it to private developers for onward development and management. With this, stakeholders in Arts and Culture feared that government has sold the edifice constructed in 1975 for the preservation, presentation and promotion of arts and culture in the country. Although, previous administrations have seemingly tried to breathe fresh air to the facility, but the efforts have yielded no positive desired result, which makes various agencies sharing the complex to doubt any information supplied about the place, especially, the way the contracts are signed and handled. In April 2013, controversy around the use of the theatre site arose, and quickly became emblematic of the fraught relationship between culture and development in Lagos. Rumours surfaced that the National Theatre would be sold by the federal government and replaced by a five-star hotel. Following the outrage that greeted the response, the federal government eventually made it clear that they were proposing the development of land surrounding the theatre - where the Lagos Rail Mass Transit Project is already under construction - into a hotel, restaurants, offices, shopping malls. The same year, stakeholders in the sector held a peaceful demonstration to call on the then Jonathan-led administration to jettison the plan to turn the place into a cash cow. The federal government in a bid to push back the pain of recession is on a tragic trajectory in the ongoing debate about whether or not to sell some of the National Theatre in order to stem the hemorrhaging condition of the disfigured economy that has gone pear-shaped because of recession. Recent calls for the proposed sale of one of the country’s crown jewels to pull the economy out of recession, has met stiff opposition from well-meaning Nigerians, arts connoisseurs and economic experts who described it as a dangerous move by the President Muhammadu Buhari administration, should rumours turn out to be true . When THISDAY visited the iconic structure which was built during the military regime of General Yakubu Gowon, the park was full of children walking, running, sitting, playing; smartly dressed children shooed by their mother, clip-clopping along the pavements; colourful stands selling snacks and drinks; miniature bottles of liquor scattered in the grass. This enthusiastic misuse of the edifice and its surrounding environs reflects some of the reasons for which it probably has, in the last two decades, become a huge challenge for the federal and state governments and a cause for concern for stakeholders too who are willing investors. Facts on the controversial concession… The idea to privatise the theatre was introduced by former military Head of State, President Olusegun Obasanjo. The suggestion drew serious opposition from stakeholders and the plan was temporarily shelved. But the fear and suspicion that the edifice would be sold and converted, first into a proposed five star hotel and later, into a shopping mall never fully went away. Instead, it gained momentum with the appointment of Kabir Yusuf as General Manager National Theatre, Iganmu, who formed an alliance with former Tourism, Culture and National Orientation Minister, Edem Duke, seeing the workers allegedly connive with the Bureau for Public Enterprise (BPE), the only agency of government empowered to sell off public properties. The paper works were perfected and they were allowed to finish the work on the concession of the National Theatre. On August 14, 2014 a memo with reference No. NT/GM/ C14/53 was raised, signed and

National Theatre, Iganmu, Lagos

delivered to Senator Hassan Baratu, former Senate Committee Chairman on Culture, seeking approval to Develop the National Theatre’s fallow land using Public Private Partnership (PPP) model. The memo proposed road shows in Lagos, London, Dubai and South Africa, aimed at stimulating investors’ interest to the concessioning of the fallow land. After the shows, Yusuf said he also planned a “ground breaking” of the project which was to be performed by former President Goodluck Jonathan and scheduled for December 18, 2014. A N39, 650,000.00 budget was attached and the 26 names of officials, on the trip, including the Duke, Senator Baratu, Board chairman, Markus Ishaya and other officials were approved. In no time, news broke from the road shows in December 2014, as an Arab online news media, Gulf Africa Review (www. gulfafricareview.com) reported that a diversified UAE-based business conglomerate- Mulk Holdings, has announced entry into the retail sector in West Africa through a $40m joint venture to develop Nigeria’s National Arts Theatre in Lagos into a duty-free shopping centre in partnership with the Suzanne Group. The news generated interesting permutations in the arts and culture industry, pressuring Yusuf into denying the sale of the edifice. With the total cost of road shows exaggerated, officials scheduled for the trip did not travel eventually and monies allotted were not returned. Suspicion triggered a May 18, 2015 memo written to Yusuf by the Governing Board chair, Markus

The National Theatre appears to have lost its status as a beacon of cultural nationalism. Equally with no clear details of this proposed sale made available to the public and stakeholders, the federal government through the Information and Culture Minister, Mr. Lai Mohammed, denied the planned sale of public assets

Ishaya, asking among other things, an account of the project. Ishaya in the memo said the monies be accounted for and the balance be returned to the treasury receipted. Additionally, the groundbreaking ceremony which would have effectively seeded the “fallow grounds” as a whopping N61, 310,247.00 (Sixty one million, three hundred and ten thousand, two hundred and forty-seven naira), and scheduled for either May 20 or 21, 2015, was abruptly called off. However, the workers began a war internally with Yusuf resorting to threats. Some sought police protection after photographs of their houses and the names of family members were pasted around the complex. Soon enough, the threat strategy failed, and in malice, Yusuf transferred key members out of Lagos. He was later recalled to Lagos and finally dismissed in March, following allegation of incompetence. Fighting back, he argued that the process removing him was not transparent, saying that all relevant stakeholders were carried along including the Lagos State government, Infrastructure Concession Regulatory Commission (ICRC) and the Federal Ministry of Works, which led to the inauguration of the stakeholders committee on September 20, 2012. It is worthy of note that a transaction adviser, BGL Capital PLC, was appointed and an Outline Business Case (OBC) was sent to and approved by former President Jonathan on July 2, 2014. Following the internal discord, in 2014, seven of the 17 consortia that indicated interests and tendered their bids were pre-qualified for request for proposal. Out of the seven, only three submitted technical and financial bids. After evaluations, Topwide Apeas/Chris Michael Ltd emerged as the preferred bidder and Calzada Nig. Ltd as the reserved bidder. This result was then certified by the ICRC and the two companies have been communicated to accordingly. Grave allegation of frauds… Since his appointment as the general manager in 2009, Yusuf has not had respite. There have been several allegations of financial misappropriation, high handedness and dictatorial behaviour leveled against him. When stakeholders air out… The idea of the sale prompted furious protests from many Nigerians. Wole Soyinka, whose fable of abusive sovereignty, King Baabu, premiered at the theatre the same year, said “You can liken this to a horrendous fate suffered by the black race, pauperised and victimised by public office holders who transform power into an instrument of repression and oppression.” Having failed to convince the public that

privitisation would be beneficial, but nevertheless still incapable of fulfilling the ambition of the site’s original architects, buoyed by the oil boom of the 70s and inspired by a programme of cultural nationalism and black internationalism, the state has remained an unhappy steward of the site. The National Theatre appears to have lost its status as a beacon of cultural nationalism. Equally with no clear details of this proposed sale made available to the public and stakeholders, the federal government through the Information and Culture Minister, Mr. Lai Mohammed, denied the planned sale of public assets, although the Senate, which had earlier kicked against the plan is now said to be welcoming of a plan to concession the National Theatre amongst some assets for a number of years. Aremo Tope Babayemi, aka Baba Tee, who is the coordinator and original percussionist for UB40, and also runs a performance space- The Little Theatre, sees the village as a rare example of a community which supports itself; he says about his younger colleagues, Jude Udueni and Shaggy Don: “if they were lesser men they’d be out doing “419” (email scams), pimping, robbing. The government’s threat to concession the land on which the Village is built represents, a failure of management on behalf of government: too much and too little: instead of admitting it they put in political appointees and expect results. They put us in double jeopardy. The presidency is imposing this executive recklessness. Over sixty artists - not only artists but dancers, writers, sculptors, musicians, animationists and filmmakers - who work in the Village see the government as out of touch, “officials in plush offices with no sense of artistic energy.” While the National Theatre stands, in one minister’s memorable phrase, as a “gigantic empty shell”, here in the Artists Village a creative community has been living for the last 20 years. “This is where the content is.” Worried by this neglect, he disclosed that our leaders’ and policy makers’ understanding of the sector is very shallow, calling on all stakeholders and the art communities to start engaging government, put up advocacy to direct the new administration on the right path. In the words of an Art playwright, Author and Director, Leke Ogunfeyimi, “Policy makers do not understand the art in the first place, they believe it’s entertainment and so, it is not important. We need a ‘Broadway’ for theatres. That’s what makes America’s entertainment vibrant; having full house box office taking from Broadway, off-Broadway, off-off Broadway. Every local government council should have a theatre auditorium with sitting capacity of not less than 500. There is so much to be done to make arts vibrant and relevant in the global village. Therefore, a separate ministry and minister

• T H I S D AY THURSDAY, DECEMBER 29, 2016

FEATURES with artistic capability and flair to carry out the assignment would be needed to build the arts industry,” he stated. According to a key affected stakeholder, currently in court with the federal government over the concession bid, Jadeas Trust Consortium, Yetunde Aina said “I am on the side of the good people of Nigeria. We have been on this since 2002 when the first attempt to concession it started during Obasanjo through the BPE which put out a request for expression of interest. We were shortlisted through the foundation I run. We have done and continue to do educational projects in Africa which we focused on. I believe, I have an understanding and find it a criminal thing that the National Theatre remains a shrine with nothing happening under government. Soyinka and the Arts community went against the concessions, so it was re-advertised in 2007, we bided again, and through that process we came in as the preferred bidder with local and foreign partners, as the earlier preferred bidder wasn’t able to conclude. Because what the National Theatre should be is a world class centre for the creative and performing Arts, and in the light of our vision for it, it is the theatre that should be the catalyst for the re-development of the wider area. Now on the other hand, the former Minister, Edem Duke decided rather than conclude on that transaction, he went to ICRC and started a separate transaction which threw up Caldaza, Topwide Apeas Limited amongst other companies. There have been about nine ministers since we started. Each of them seeing himself as the Landlord, including the current Minster of Information and Culture, Lai Mohammed. The idea is that they would hold unto the theatre, and just the fallow land would be concessioned. The kinds of people who put in bids just see it as lands for hotels, shopping etc like the centenary city in Abuja, it’s like a land grab. The agreement that they arrived at is that they would give money to the Ministry of Culture to renovate the theatre and the ministry would continue to run it in the terrible way they have been doing till date.” Going down memory lane, “in 20017, the World Bank gave us money to work with the Artists Village headed by Tope Babayemi, Guild of Actors in offering business development support to about 60 of the businesses in the Artists’ Village. It’s a vibrant community with terrible facilities. The theatres are like a shrine. Even the former General Manager, Yusuf told me that there are six Assisting General Managers who earn N450, 000.00 a month in the theatre for doing nothing. Hearing that, I couldn’t ask him how much he was earning. With over 300 staff, with the least earning 70,000 for doing absolutely nothing. They want to continue in that trend. The Arts community I am close to, and the like of Jahman Anikulapo have moved the Lagos Book Festival from the theatre to Freedom Park. Everyone has moved because they will ask you to pay some ridiculous monies. So also weddings and social functions are done there. Is that what the theatre is supposed to be for? The whole thing is just a farce. Is it at a time when even the sports stadia have to be concessioned, especially in a recession and do nothing with it, expecting government to continue paying staff salary for doing nothing.’’ Speaking on the impulse behind the lingering fight for the concession, she said ‘‘We regard ourselves as stewards of the people’s interest. These are people that should be questioned. It’s even more surprising that the current Minister, Lai Mohammed is backing the cause of their interest in holding on to the theatre. Because we took the government to court, the current state of things is that the Vice President, who sits atop the National Council of Privatisation, told the two consortia and the stakeholders, the Bureau for Public Enterprise (PBE) and Infrastructure Concession and Regulatory Commission (ICRC) to provide Topwide Apeas. And who is Chairman of Topwide Apeas, he is Senator Annie Okonkwo. He is allegedly also on AMCON’s chronic debtors’ list. When the VP said we go and come back with a resolution that can be presented to the FEC, we held meetings with the Senators’ legal representation and we said let there be a joint venture between the two parties. So, the Joint venture becomes the master developer for the National Theatre. If it’s shopping that you want to do, you’ll now put in expressions of interest for the different components. What they are trying to insist on is that we should withdraw our case from court and allow the minister to put forward Topwide Apeas Limited, and then they will allow us to renovate the National Theatre. We are saying God forbid. They are not interested

Mohammed...should speak out on the status of the National Theatre

in the theatre, if you hear Chris Ogan; he is saying the theatre is a deal breaker for them because they are just interested in the fallow land. We who have the theatre at heart, and see it at the level of UK’s 02 Centre, a world class centre for the creative performing Arts. On that note, we cannot subordinate our interest to someone who is just interested in saloon, hotels etc that’s where we are at the moment. The next court hearing is in January and we are not accepting.’’ When THISDAY checked on the preferred bidder, Topwide Apeas Limted, CEO Chris Ogan, instructively said, ‘‘there was a concession or privitasation bid of the National Theatre in 2007, I wasn’t part of that. And that was cancelled by the federal government because the Federal Executive Council (FEC) under Obasanjo decided that they didn’t want to privatise the National Theatre, so that bid was cancelled. So there was another attempt in 2010 unknown to people, the then minister also wanted to resuscitate it, and the federal government decided against it. But there was a new concession for the fallow land of the National Theatre to be developed into hotels and world class recreational centres and other complimentary services, because that was contained in the original master plan of 1975 when it was built. The federal government only built the National Theatre. The consortium I head, won the bid to redevelop the fallow land, and not the National Theatre. The case in court is by Jadeas Trust. They participated in the bid for the privitastion of the National Theatre and not the fallow ground. There is a mixture. They sued the federal government on the grounds that how come they are giving us concession whereas they didn’t win the bid in the first place. They came second. With the new minister that came they went to do some back door arrangements and the minister asked them to re-submit their proposals. They went and did as instructed, and the federal government shut the process down again, saying it did not want to privatise. So she misunderstood the concession which we won and went to court challenging the federal government as to why they should give us the concession of the fallow land, which is totally a different ball game. And in our concession, what we agreed because we didn’t bid for the National Theatre, they said we will renovate the main bowl for them and hand it over to government. And so we agreed to renovate the main bowl only. The National Theatre is

I believe, I have an understanding and find it a criminal thing that the National Theatre remains a shrine with nothing happening under government

not being concessioned to us, and we are not interested in that. I heard the consortium that won the last bid and we received the Infrastructure Concession and Regulatory Commission (ICRC) approval, and awaiting the Federal Executive Council (FEC) approval now, in front of the minister to be presented to Federal Executive Council (FEC) to append the final signature.’’ Addressing the fact that some parties are a bit apprehensive of the fact that the process appears riddled with an insider dealings, not giving room for healthy competition and fair play in the bid selection process, most crucially on the premise that his Chairman, Senator Annie Okonkwo is involved in the process through political influence. “That’s not true. He wasn’t even part of the process, I am the one that handled all the whole transaction. He’s Chairman, Yes. But he’s not using his political weight. This was a public international bid, but he didn’t follow it. There were public notices in London, Dubai and South Africa two years ago, where international investors were present with their bids. And a consortium of 17 companies applied. We had joint venture with Turkish firm, groups from Abu Dhabi and Switzerland to be able to win this bid. It was done openly with Ministries of Finance, Justice, ICRC were all involved in the process. Nothing has been done in secret. This was as transparent as is it could be, and that is why ICRC issued their certificate of compliance to us as the bid winner. Politicians could be chairmen of companies, but I am the one in charge of the day-to-day running of that consortia. So, Jadeas Trust is not in court with us, but with the federal government. National Theatre remains the way it is because the federal government says it doesn’t want to privatise it.’’ Excerpts of a letter written to the Vice President, and made available to THISDAY reads thus: ‘‘We wish to unequivocally state that Jadeas Trust has been very economical with the truth. We find this very unfortunate indeed. “The claim that Topwide Apeas consortium and Jadeas Trust have reached an agreement to incorporate a Special Purpose Vehicle (SPV) as the Master Developer for the concession of the fallow land of the National Theatre is also a fallacy. It is very sad and regrettable, that in a clear and deliberate distortion of the facts of 2016, falsehood could be told to you and your esteemed office is beyond our imagination. “As a fallout from the above subject matter’s stakeholders meeting in the Vice President’s Office, we have had several meetings with Jadeas Trust Limited and have continued to urge them at each meeting to withdraw the law suit against the federal government of Nigeria.” Giving a status report, Ogan said, ‘‘We sent them an MoU in October, 2016, that on the receipt of the pending FEC approval, we shall sub-concession the renovation of the main bowl of the National Theatre and the construction /management of the entertainment arcade to them subject to a formal approval by the management of the National Theatre as enshrined in the negotiated concession agreement. As you may be aware, The National Theatre building is not part of our concession but the renovation and hand over of the main bowl. We have consistently stated that we have concluded negotiations with the federal government under a Public Private Partnership framework and the bid received the certificate of compliance from ICRC early

this year.” On further investigations by THISDAY, Jadeas Trust has failed to respond to this MoU but rather dragged Apeas Chairman Senator Annie Okonkwo to see Chief Obasanjo, the former President in his house for mediation. Instead Jadeas Trust unequivocally wants a Special Project Vehicle formed that will include, Topwide Apeas, Jadeas Trust Limited as The Master Concessioners by a stroke of the pen. The proposed Special Project Vehicle seeks to renovate and manage a privatised National Theatre in addition to developing the fallow land around it as contained in the Topwide Apeas master plan. Not their master plan. However, Jadeas Trust has continued to insist that this is the only plan that will work for them. Giving a voice on the matter, the Director General Infrastructure Concession Regulatory Commission, Alhaji Aminu Dikko said, ‘‘The Infrastructure Concession Regulatory Commission (ICRC) was established in 2008 to support the objective of reducing Nigeria’s infrastructure deficit by engendering private sector participation. The Commission is required to regulate how Federal Ministries, Departments and Agencies (MDAs) enter into Public Private Partnership (PPP) projects with the objective of achieving better value for money (VfM) for infrastructure services and enhanced economic growth. The Commission is required, by law, to take custody of every PPP agreement entered into by the government and also monitor compliance with the terms and conditions of such agreements. The federal government had initially received a proposal from BPE to sell the National Theatre (Privatisation). Through this procurement, a company called Jadeas Consortium eventually emerged as the buyer. However, due to public outcry against the sale of such an iconic national asset, government cancelled the proposed sale. The ICRC then submitted a different proposal for the government to grant a concession to a private sector entity for a number of years, after which the entire land and all development built on the land, would revert to government. The scope of the concession includes the development of a 5-star hotel, office buildings, leisure park, a shopping mall and multi level car park. With the approval of the Federal Executive Council, the ICRC commenced a transparent procurement process from which a company called Topwide Apeas Consortium emerged the preferred bidder on December 27th 2012. ICRC reviewed the project Full Business Case Certificate (FBC) after which the Commission issued a Compliance Certificate on 10th March 2016 to enable the Ministry of Information and Culture seek for the Federal Executive Council’s approval. Regrettably, the company that bid for the purchase of the National Theatre through BPE went to court to assert that the federal government had already committed to the company the National Theatre sale under the BPE led transaction. This is the only challenge to the transaction and it was not about the transparency of our procurement but about Jadeas claiming that it had more right to the National theatre than Topwide Apeas Consortium. “This case is still pending in court although we know that the Minister of Information and Culture, Alhaji Lai Mohammed, has been working assiduously to make parties reach an amicable settlement. We therefore hope that the dispute over this very innovative project will be resolved as soon as possible so that it can reach financial closure. ‘’ When THISDAY spoke to Alhaji A. Maigari, Director Industries and Services Bureau for Public Enterprise (BPE) to get the side of the story of the agency which acted in the capacity as Transaction Advisers for National Theatre, he absolved his agency through these words, ‘‘we did our own in 2007 and unfortunately the government said they are taking over. The Infrastructure Concession and Regulatory Commission (ICRC) most crucially the Minister of Information are the best to talk on the matter, as it’s their transaction. We are just helping them to execute our mandate. The minister is best suited to handle the controversy,’’ he said. All efforts to reach the Minister of Information and Culture, Lai Mohammed, proved abortive, as he has refused to neither pick his phone calls nor reply text messages. However, THISDAY was able to speak with his Personal Assistant, Femi Odutade who said ‘‘This is a baseless allegation, and I am not aware of a lot of these developments and cannot comment on them at all.’’ NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

IMAGES

L-R: General Overseer, The Lordís Chosen Charismatic Revival Ministries, Pastor Lazarus Muoka; his wife Pastor Joy Muoka; and Vice Chairman, Church Council Brother Victor Ukutt, during the 14th anniversary thanksgiving service in Lagos... recently

Executive Producer/Presenter, Ronke Apampa(left) and comedian Bash D Cash at the yearly family entertainment show in Lagos....recently

T H I S D AY • THURSDAY, DECEMBER 29, 2016

Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com

Picnickers at Magicland Amusement Park during the Xmas Celebration. in Abuja...recently

JULIUS ATOI

L-R:Chairman, Senate Committee on Health, Senator Olanrewaju Tejuoso; Deputy governor of Benue State, Mr.. Benson Abounu and Director Nutrition/Global Development, Bill & Melinda Gates Foundation, Mr. Shawn Baker, during the senate committee on health meeting on high level policy dialogue on nutrition in Nigeria in Abuja..recenntly ENOCK REUBEN

R-L; Special Guest of Honour, Chief Pius Akinyelure; Vice Chairman’s wife, Bunmi Fabanwo; Lagos State Governor, Mr. Akinwunmi Ambode; Chairman, Yoruba Tennis Club, Mr. Ayodele Martins; his wife, Olumuyiwa and Vice Chairman of the Club, Dr. Adetokunbo Fabanwo during the Clubís Christmas Eve Dance at the Club in Lagos...recently

L-R; Kwara State All Progressives Congress Women Leader, Hajia Sarah Adebayo; Kwara State Governor, Dr. Abdulfatah Ahmed; Wife of the Governor, Mrs. Omolewa Ahmed and Commissioner for Women Affairs, Dr. Asiat Ayinke Saka during the presentation of symbolic Cheque and Certificates to Kwara Women from the sixteen Local Government .in the State in llorin...recently

L-R; Provost, Cathedral Church, Marina, Revd. Adebola Ojo-Fehintimi; his wife Mrs. Folake Ojo-Fehintimi; The Diocesan Bishop of Lagos and Dean Emeritus, Church of Nigeria, Anglican Communion, The Most Revd. Dr. Adebola Ademowo and his wife Mrs. Oluranti Ademowo after the Xmas service at the Cathedral church, Marina, Lagos...recently

T H I S D AY • THURSDAY, DECEMBER 29, 2016

BUSINESSWORLD NIBOR OVERNIGHT 1-MONTH

R A T E S 4.150 15.8625

A S

3-MONTH 6-MONTH

A T

18.3916 21.0554

Group Business Editor ChikaAmanze-Nwachuku Email: chika.amanzenwachukwu@thisdaylive.com 08033294157, 08057161321

D E C E M B E R

NITTY 1-MONTH 2-MONTH 3-MONTH

11.4397 16.8358 17.1394

6-MONTH 9-MONTH 12-MONTH

2 3 ,

2 0 1 6

19.7842 21.3470 22.8256

EXCHANGE RATE N305 US DOLLAR AS AT LAST FRIDAY

Quick Takes Yudala Thrills Owerri with Music Concert

It was a night of huge excitement and unlimited fun on Wednesday December 21st as the Yudala Imo My Pride Mega Music Concert witnessed thrilling performances from twin sensation, P-Square and Mavin star, Dr. Sid, who kept the massive crowd in Owerri, Imo State. The event, which featured as part of the activities for the Imo Carnival 2016, had in attendance the Executive Governor, Imo State, Rochas Okorocha; Deputy Governor, Eze Madumere; Chairman, Zinox Group, Leo Stan Ekeh, members of the Imo State House of Assembly and a number of first class traditional rulers. Also in attendance was the Executive Governor, Cross River, Prof. Ben Ayade, who was the Special Guest of Honour. A night, which got underway with a carnival parade by dance troupes from various local governments in Imo State, eventually saw a high-octane musical feast when the Yudala Imo My Pride Concert commenced from 2am. With upcoming act Akuchi Amadi raising the curtain and David Grey again showing why he is unarguably one of the most promising talents in the music scene, the atmosphere was lifted high with their music.

DRIVING INFORMATION VALUE CHAIN

L-R: Chief Risk/Compliance Officer, eTranzact, Oluwafemi Aminu; General Manager Business Risk Management, MTN Nigeria, Cyril Ilok; Managing Director/Chief Executive Officer, Digital Jewels Limited, Adedoyin Odunfa; Head of Assurance, Interswitch, Omowale Micaiah and Chief Risk Officer of Nigeria Inter-Bank Settlement System, Osioke Ojior, at the 66th edition of the Digital Jewels’ Information Value Chain Forum held in Lagos...recently

NIPOST Promises to Intercept Items that Undermine National Security Stories by Emma Okonji The Nigerian Postal Service (NIPOST) has assured Nigerians of its commitment to intercept every illegal item that passes through the mail processing centre at the international airport, especially items that could undermine national security. Postmaster General of the federation, Bisi Adegbuyi, who gave the assurance on the occasion of the official handing over of elephant tusks that were intercepted by NIPOST and the Nigerian Customs, to the Director General, National

ICT Environmental Standards and Regulations Enforcement Agency (NESREA), in Lagos recently, said NIPOST would continue to collaborate with the Nigerian Customs to achieve the feat. “The effects of globalisation, which has invariably improved postal networking, calls for precautions thereby warranting spirited efforts to be made to prevent concealment of dangerous items in parcels which have the tendency of compromising national, regional and global security,” he said.

According to him, in recent times, the scourge of insurgency and terrorism witnessed in the Middle East, Mediterranean and sub-Sahara Africa seems to have kept the world on its toes such that concerns have been expressed about the vulnerability of the international postal network as a channel for transmitting dangerous items from one point to another. “Hence, there is presently a synergy of purpose and exchange of communications among member nations of the Universal Postal Union (UPU) on the nature of items that passes through their postal

system. The intention of poachers to illegally ship elephant tusks through the post cannot be divulged from their impression that the Nigerian post is a safe haven for such nefarious activities, but we shall continue to do our best to protect our postal system by putting in place necessary institutional frameworks and structures,” the Postmaster General/CEO said. He said the action of NIPOST has validated its position that the agency has become increasingly relevant in preservation Continued on page 24

Risk Experts Push for Local Contract Outsourcing Risk experts have urged the public and private sector institutions to come together to steer the country away from the declining economic fortunes in 2017. The experts were of the view that costs can be cut down and local contractors encouraged by reviewing foreign contracts and ensure that contracts are outsourced to local consultants to boost the Nigerian economy. This was the position of panellists at the 66th edition of the Digital Jewels’ Information Value Chain Forum held in Lagos recently. The session focused on “Risk Outlook 2017” and had on the panel, the Chief Risk and Compliance Officer at eTranzact, Oluwafemi Aminu; Head of Assurance at Interswitch, Omowale Micaiah; Chief Risk Officer of Nigeria Inter-Bank Settlement System, Osioke Ojior; and the General

ECONOMY Manager, Business Risk Management, MTN Nigeria, Cyril Ilok. The discussion was moderated by the Managing Director/ Chief Executive Officer, Digital Jewels Limited, Adedoyin Odunfa. Ojior said that risk communication ought to be made easily understood. According to him, Nigeria must upgrade its skillbase, adding given where we are in our development journey, we need the skills to develop. Whether it is important in the planning, or in the execution of those plans, skills are really very important. For those of us operating in Nigeria, we need to look beyond Nigeria and across the borders. We need to look at what the opportunities in the continent offer and how far we can key into them.” Ilok, however, declared that

Nigeria would thrive economically by looking inwards and having a forward thinking economic team. He said the country’s over-reliance on oil had prevented it from diversifying its economy, adding that instability in government policies and decision making process had discouraged big private investors from the country. “Our lack of planning brought us thus far. Some things could have been foreseen, some things could have been dealt with better but we just failed to plan,” Ilok said. For Micaiah, indecision is the basic problem of the present administration. According to him, “This indecision is a risk in itself and if there is anything the government wants to do, it is that it should be apt with policy planning and execution.” On his part, Aminu called for an aggressive drive towards

indigenous contents. He said that government and private institutions should use what he described as “Black/Nigeria” consultants to execute their projects. He also stressed the need to go back to the basics and take a business, not technology-led approach to solving problems. Odunfa said the risk landscape was expanding at an exponential rate and counseled that there should be more enlightenment campaign about the drive towards economic diversification. He said looking onwards also implied a readiness to do the hard work, to think, to plan and to roll up our sleeves. She stressed that there were still several opportunities despite the recession. Accessing them, however, would require a new way of thinking and Continued on page 24

Skye Bank Wins Electronic Award

Skye Bank Plc has emerged “The Most Committed Watch Listing Bank in Nigeria” out of four corporate awards that were up for grabs at the Nigeria Electronic Fraud Forum (NeFF) Annual Dinner and Awards which held in Lagos recently. This was confirmed in an industry-wide survey administered by Central Bank of Nigeria (CBN), in conjunction with Nigeria Inter Bank Settlement System (NIBBS). The award, which is in recognition of efforts of the banking industry in the fight against electronic fraud, is presented to the institution ‘with the most efficient and robust system for tracking all forms of electronic fraud and arresting perpetrators for prosecution.’ The challenge of securing the Nigerian payments system will always be a daunting task as with the ease of payment, comes greater adoption, and with increased adoption, the lure of cybercriminals who seek to convert either digital asset or resources or both to their own, becomes even greater. Speaking at the event in Lagos, the NeFF Chairman, Mr. Dipo Fatokun, who is also the Director, Banking and Payment System at CBN, explained that an effective fight against fraud was not without robust awareness programme, not only for members of the public, but also for staff of organisations that operate within the payment space. He further stressed the importance of starting the awareness programme in 2017, insisting that it will help the industry reduce cost of fraud through increased vigilance and detection abilities. On the credibility of the process that led to the emergence of Skye Bank as the winner of the award, CBN, in collaboration with NIBBS carried out a survey to rate the performance of all Banks in the fight against electronic fraud. The survey rated Skye Bank as the most committed bank when it comes to tracking fraud and arresting perpetrators.

Ericsson Optimistic on Media Deals

The continued deals in the telecoms and media sectors are expected to open up opportunities for Ericsson, according its head of media unit, Per Borgklint. In an interview with Reuters, Borgklint said the company can directly benefit from deals similar to the AT&T/Time Warner deal, which is currently undergoing the regulatory approval process. The company, which counts AT&T among its customers, believes it is well positioned to grow this segment of its business as operators look to add content to their overall service and producers attempt to find more efficient ways to reach consumers. Ericsson executives have been bullish on the positive impact of cross-sector M&A since news of the AT&T deal broke earlier this year. At the company’s Capital Markets Day in November, Interim CEO Jan Frykhammar, highlighted these deals validated the company’s own strategy based around enabling increased video transport on operator networks.

“With TSA, government now has information on the total amount of government money, as well as information of the exact amount belonging to each MDA in the TSA account”

Managing Director, SystemSpecs, John Obaro

T H I S D AY •THURSDAY, DECEMBER 29, 2016

BUSINESSWORLD NIPOST PROMISES TO INTERCEPT ITEMS THAT UNDERMINE NATIONAL SECURITY of vital aspects of our national life and the promotion of our corporate image. According to him, investigation has revealed that 1kg (2.21bs) of elephant tusk sells as much as $2,100 in the black market. The value of the 485.4kg of the elephant tusks intercepted therefore translates into $1,019,340 with the naira equivalent of N458, 703,000 at an exchange rate of N450 per dollar. This discovery, no doubt, further explains the reason for the desperation of elephant tusk poachers and therefore the need for sustainable action plans on the part of relevant government agencies to reverse the trend. Adegbuyi, appreciated the National Crime Agency (NCA) of the United Kingdom for its technical support and the Nigerian Customs Service by ensuring that dangerous and prohibited items are prevented from passing through the post. “The continuous detection and interceptions of prohibited items through parcel scanning activities at our mail processing centre is reflective of the collaborative efforts of the NCA, the United States Postal Inspectorate service (USPIS) as well as other sister security agencies such as the Nigerian Customs Service, National Drug Law Enforcement Agency (NDLEA), Economic & Financial Crimes Commission (EFCC), the Nigerian Customs Service, the Directorate of State Service (DSS) and others,” Adeguyi said. RISK EXPERTS PUSH FOR LOCAL CONTRACT OUTSOURCING engaging, explaining that those opportunities could be within existing value chained require product, or regional diversification. The forum is a quarterly gathering of professionals in ICT and other sectors. It provides a platform for knowledge sharing, information exchange and networking for executives as they climb the corporate ladder. This interactive session helps executives to keep abreast of pertinent trends on increasingly important issues which can affect their individual and corporate competitiveness.

Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Crusoe Osagie

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Cap Mkt) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (Maritme)

NEWS

Stakeholders Want FG to Declare October Cybersecurity Month Emma Okonji Following the increasing rate of insecurity in the cyberspace that has led to huge financial losses in the online space, stakeholders in Nigeria’s information communications technology (ICT) and broadcasting sectors have called on the federal government to adopt October as the national cybersecurity awareness month in line with global best practices. This call was made at the National Cyber Security Awareness Month (NASCAM) conference held in Lagos recently. The call was the consensus of Most speakers and participants at the one-day conference were in consensus on call, stressing that cyber security should be given additional attention by the federal government of Nigeria going by the exponential growth of internet related activities in the country. Delivering a paper on “Internet Jurisdiction: A Catch-22 Situation and the Trajectory of Nigeria’s Judicial System,” Managing Partner M. A. Banire and Associates, Kunle Adegoke, said: “The evil effect of cybercrimes can be hardly exhaustively appreciated as same may seem to be limitless. According to a recent report, “Cyber-crime costs the global economy about $445 billion every year, with the damage to business from the theft of intellectual property exceeding the $160 billion loss to individuals from hacking.” According to the report, in 2012, Nigeria lost over N2 trillion to cybercrime in 2012 and $200 million per annum. The amount of loss annually occasioned now can be better imagined as youths today see cybercrime as an open avenue to sudden riches. While commending the Nigerian government for enacting the enabling law to deal with cyber criminality, he called for the strengthening of

the existing laws. According to him, “the computer has created a different world of cyber existence where man can live without laws of ancient regime. The benefits of burden of human relations have occasioned cyber-crime as well.” He expressed concern that “it is not good for technology to run faster than law. Whenever, technology moves faster than law, what you will have is a legal vacuum. Nigeria suffered this legal vacuum for a long while,” Adegoke said. The Immediate past Director General, National Broadcasting Commission, Emeka Mba also expressed the need for increased citizens and government’s participation in awareness creating

and pragmatic interventions in the cyber security issues and challenges. He said even the broadcast industry that used to have a sense of immunity against cyber-attacks is now more vulnerable like every other IT entities because of the convergence of technology which has allowed for the integration of Internet Protocols in the broadcasting industry and the emergence of Smart television sets. “Few years ago, the major headache for a pay Tv service was smart card hacking, and piracy, today its much worse. According to a new report in Digital TV Europe “Cybercriminals target broadcasters up to 1,000 times a day,” Mba said.

According to him, for years the industry has been moving away from traditional, analogue audiovisual broadcasting technology towards digital and network-based infrastructure. This is a logical and necessary process for broadcast companies to keep pace with technological development, and to benefit from the efficiencies of digital media network distribution. “But any system based on delivering digital media over the internet is potentially vulnerable to cyber-attack from outside. Broadcast signal intrusion is the hijacking of broadcast signals of radio, television stations, cable television broadcast feeds or satellite signals. Hijacking incidents have involved local TV and radio stations as well as

cable and national networks,” Mba said. President, Nigeria Internet Registration Association, (NIRA), Sunday Afolayan, who spoke on internet governance, highlighted some of the issues that have made it pertinent for the Nigerian government to speedily consider the presidential proclamation of October as the national cyber security awareness month. Director General, Cyber Security Challenge Nigeria, Victor Phikparobo Idohor said that no one or organisation is immune to the real and present danger in the cyber space. He stressed that the emerging threats in the cyber space is beyond amateur hacks, and should be addressed as such.

COLLABORATIVE PRODUCT LAUNCH

L-R: Product Specialist, Value Added Services, MainOne Cable Company, Adeyemi Tanimomo; Director, Small, Mid-Market Solutions and Partners Group, Microsoft Nigeria, Oluwawemimo Adeniyi; Founder of GigaLayer, Ahmad Mukoshy; Chief Executive Officer, MainOne Cable Company, Funke Opeke and Small, Mid-Market Business Marketing Manager, Adeniyi Adebote, during the media launch of Microsoft/MainOne SME-In-A-Box Pro at Microsoft Office, Victoria Island, Lagos...recently

Experts Advise Entrepreneurs Yuletide: Lafarge Africa Enjoins Nigerians to on Strategic Business Exit be Safety Conscious Emma Okonji Experts present at the recent CompexAfrica business exit forum have advised entrepreneurs on different ways they can exit their businesses and how they can carry out business valuation on what they want to sell or buy. The CompexAfrica platform, which has over 90 businesses worth several billions of naira listed on it for sale, brought together some business buyers and sellers on a single platform recently. One of the experts, who is a director from Ernst & Young, Damilola Aloba, shared his experiences on how to prepare a company for sale, and how to value small businesses. Aloba in his presentation said, “business valuation is an art and not a science. It depends largely on the aims and objectives of either the buyer or seller at a particular point in time.” The three fundamental approaches to business valuation, according to him, are Assetapproach, Market-approach and Income-approach. He

further demonstrated how intrinsic and relative valuations can be used. In intrinsic, the value of an asset is estimated based upon the business cash flow, growth potential and risk. While in relative valuing, assets are valued by looking at what the market prices of similar assets are. That is, what is the comparable or similar price of such asset, and standardised price. On legal and intangible asset valuation, Partner, Astute & Young, Ikechukwu Ubahakwe, advised entrepreneurs to ensure they engage experts if they want to buy or sell a business. He emphasised the need to carefully examine the existing legal agreement to know if the seller has the right to sell and to whom they can sell to. Executive Vice Chairman, Signal Alliance, Collins Onuegbu, wants entrepreneurs, who plan to sell, to have a clear-cut objective for their decision, then prepare their business for partial or full sale by ensuring that a 3-year account statement, and a business plan are in place.

Raheem Akingbolu To further demonstrate health and safety as an overarching value, Lafarge Africa Plc, a leading construction solutions company in Nigeria, has enjoined Nigerians to be safety conscious in this festive season as they cope with the attendant increase in human and vehicular movements. This call was made by the Country Chief Executive Officer of the company, Michel Puchercos in Lagos. He emphasised Lafarge Africa’s commitment to extend its culture of health and safety beyond employees, contractors, communities, and customers to the government and the Nigerian public. “At this festive period, the Nigerian government and citizens must do more to prevent accidents and create a healthy and safe environment for the families, homes, work places, worship centres, communities, and so on. To achieve this, accident prevention, disaster preparedness, emergency response, periodic

health checks as well as first aid training, are important safety measures that must be taken,” he advised. Speaking further, the CEO charged members of the public to take a cue from Lafarge Africa by cultivating the habit of creating a healthy and safe environment for everyone in the society, maintaining a global health and safety management system designed to continuously improve daily human performance and actively manage risk in daily human activities, targeting operational discipline by instilling a mindset of safe execution, and communicating openly with all levels of relevant health and safety issues. “As a leader in the construction sector, our aspiration is to conduct our business with zero harm to people. We believe in visible leadership and personal accountability for Health and Safety at all levels and throughout our organization. This is what we are calling on the Nigerian public to emulate during this festive season and

beyond,” Puchercos said. According to him, health and safety is embedded in Lafarge’s core values as the company believes that it cannot achieve excellence without a deliberate focus and commitment to health and safety. “Hence, it continues to focus our zero harm goals with the conviction that incidents are preventable and that ‘zero harm’ is achievable,” he said. Several actions were taken by Lafarge Africa in the current year to fully implement its health and safety policies and procedures with active involvement of its key stakeholders including employees, customers, contractors, transporters, drivers, and communities. Some of these are annual medical checks, health and safety audits, logistics health and safety, trainings on first aid and HIV/AIDS, annual health and safety month activities across locations, and sponsorships including the recent World Aids Day in Calabar, Cross River State.

T H I S D AY •THURSDAY, DECEMBER 29, 2016

BUSINESSWORLD

E-BUSINESS

As Telcos Look Forward to Better Business Environment in 2017

Emma Okonji writes that telecoms operators are optimistic that the operating environment will be better in 2017 if the federal government and regulators address most of the challenges bedeviling the sector

Shittu

s the year 2016 winds down, telecoms operators (telcos) are looking forward to a more prosperous telecoms business in 2017 and they have called on the federal government and the telecoms industry regulator, the Nigerian Communications Commission (NCC), to address their business concerns going forward, to enable them provide better service quality in 2017 and beyond. Raising some of the concerns, the Chairman, Association of Licensed Telecoms Operators of Nigeria (ALTON), Mr. Gbenga Adebayo, said although telcos struggled to provide quality service under harsh economic environment in 2016, they are hopeful they could do better in 2017, if government act fast to remove all the bottlenecks that slowed down the pace of development in 2016. He listed some of the bottlenecks to include delay in right of way permit, incessant closure of telecoms sites, harsh regulatory environment, social environment effect among others. “Should all these be addressed in 2017, the telecoms industry will excel exceedingly in 2017,” Adebayo assured. Right of way permit Adebayo, who expressed his displeasure over the delay in granting right of way (RoW) permit to telecoms operators by the federal and state governments in 2016, called on government to consider granting quick approval of RoW to telecoms operators, who are in a hurry to expand their network rollout to unserved and underserved communities. Recounting the ordeals of telecoms operators in relation to RoW permit, Adebayo said most state governments kept demanding for arbitrary fees before granting permit for RoW, a situation, he said, delayed rollout of telecoms infrastructure in some parts of the country in 2016. He called on government at all levels to understand the essential needs of telecoms to the people and to expedite action in granting approval that will enable telecoms operators build and expand telecoms infrastructure in most parts of the country in 2017. Incessant closure of telecoms sites Adebayo, who is also worried about the action of some government agencies in closing down telecoms sites and shutting

Adebayo

down Base Transceiver Stations (BTS) that belong to those sites, said such action should not be carried over to 2017. Speaking on the implications of incessant closure of telecoms sites for reasons of non-payment of some kind of crazy bills such as environmental impact assessment fees, Adebayo said once a single telecoms site is shut down for any reason, it affects all other BTS that are linked to that site, thus causing disruptions in telecoms service delivery, which invariably will lead to poor service quality. Adebayo, however, commended the Office of the National Security Adviser (ONSA) for intervening in one of the occasions of telecoms site closure in some states of the federation by giving orders for the reopening of such sites with immediate effect. He called on the federal government, especially the National Assembly members, to quicken the process of passing the bill before it, seeking government’s declaration of telecoms facilities as critical national infrastructure that must not be tampered with. “ If this is in place, it will dissuade people from willfully damaging telecoms infrastructure

He listed some of the bottlenecks to include delay in right of way permit, incessant closure of telecoms sites, harsh regulatory environment, social environment effect among others. Should all these be addressed in 2017, the telecoms industry will excel exceedingly in 2017, Adebayo assured

Ajayi

at the slightest provocation, and it will also place some restrictions on government agencies that are in the habit of shutting down telecoms sites in the name of regulation,” he said. Harsh regulatory environment In the area of telecoms regulation, Adebayo said telecoms operators suffered from harsh regulatory environment in 2016 and called on NCC to be more flexible in handling telecoms matters, rather than imposing huge fines that are capable of grounding telecoms business in the country. Citing the N1.04 trillion fine imposed by NCC on MTN in October 2015, which dragged into 2016, Adebayo said the weight of the fine itself was capable of crippling any telecoms business and commended the federal government for intervening by reducing the fine. Going forward, especially in 2017, Adebayo said, NCC must consider other means of disciplining the operators, rather than fine. MTN, Nigeria’s largest mobile operator, was fined N1.04 trillion for failing to deactivate 5.2 million unregistered SIM cards, but was later reduced to N330 billion, after the federal government intervened following series of pleas from MTN. MTN failed to deactivate 5.2 million unregistered SIM cards on its network, despite repeated warnings from the telecoms regulator, the NCC. The fine for the contravention of a single SIM was N200,000, and when multiplied by 5.2 million SIM cards, it amounted to N1.04 trillion and NCC had no choice than to impose the fine on MTN. Addressing the issue of the fine the Minister of Communications, Adebayo Shittu said the reduction of the MTN’s fine from N1.04 trillion to N330 billion by the federal government, was done in good fate to save MTN’s business from total collapse and to also protect the jobs of thousands of Nigerians that are on MTN’s payroll. According to the minister, “We must not throw away the baby with the bath water. If they had packed up and left, let us assume all their staff are not more than 5,000, it means all of those 5,000 will lose their jobs. Also those who made investment, who bought shares, will lose their shares and the Nigeria banking sector would go into crisis.” Social environment effect Giving instance of a situation where most

talented Nigerians in the telecoms sector and other sectors of the Nigerian economy are trooping out of the country to places where they are being offered with better social environment, Adebayo said the Nigerian government must rise to the challenge in 2017 and ensure that Nigerians remain in Nigeria to do business. He said the situation is causing Nigeria to lose both economic resources and human capital resources to other countries. Broadband penetration Commending government for boosting broadband penetration in 2016, the former President of the Association of Telecoms Companies of Nigeria (ATCON), Lanre Ajayi, said there was tremendous improvement on broadband penetration in 2016 and wants government to consolidate on it in 2017 in other to boost 4G LTE deployment in the country, which comes with high speed data connectivity and better voice clarity. According to recent statistics, broadband penetration between 2011 and 2013, was at paltry eight per cent penetration, but the figure rose slightly to 10 per cent between 2014 and 2015. Mobile broadband, however, climbed to 20 per cent in June 2016, occasioned by the global shift from voice telephony to data communications, as well as the increased number of smartphone devices that are currently in the market, which are the preferred devices to access the internet. Commenting on the growth of mobile broadband in the ICT sector, Ajayi said the ICT sector witnessed tremendous growth in 2016 and that one major factor that triggered such growth, was mobile broadband, which he said suddenly reached 20 per cent penetration within few months, after several years of stunted growth. “The ICT sector witnessed tremendous growth in 2016, occasioned by increased broadband penetration, which gave room for the rapid launch of the fourth generation long term evolution (4G LTE) technology by telecoms operators. With increased broadband penetration, most industry players had to launch their 4GLTE, and with this development, many Nigerians now have faster access to broadband and the internet,” Ajayi said. Operators are of the view that 2017 outlook will be far more promising, should government addresses their business concerns as listed in this piece.

T H I S D AY •THURSDAY, DECEMBER 29, 2016

BUSINESSWORLD

E-BUSINESS

FinTrak Demystifies Financial Reporting with IFRS 9 Software Stories by Emma Okonji In a bid to ensure seamless transition and sustainable financial instruments reporting for banks, insurance companies and other financial institutions in Nigeria, by January 1, 2018, FinTrak, an indigenous software solutions provider, has release of FinTrak IFRS 9 Solution. The new standard on financial instruments, IFRS 9, was issued by the International Accounting Standards Board on 24 July 2014 to replace

IAS 39 Financial Instruments, Recognition and Measurement. The new standard brings fundamental changes to financial instruments accounting especially in the areas of classification and measurement and impairment of financial assets. Speaking at the unveiling event in Lagos recently, Group Managing Director of FinTrak SoftwareCo, Limited, Mr. Bimbo Abioye, said: “Nigerian banks should learn from mistakes of the past and avoid the booby

trap of investing heavily in foreign financial instruments calculation engines that are not easily adaptable to our local business needs, and with a very low probability of success.” He stressed that the FinTrak IFRS 9 solution was not only developed by Nigerians for the Nigerian market, but to also assist banks, insurance companies and other financial institutions in migrating their existing IAS 39 based financial instruments reporting processes and software

to IFRS 9. “The Fintrack IFRS 9 solution is user friendly with a simple interface that will enable a non-ITperson to operate with ease,” he said. Head, Department of Professional Practice, West Africa at KPMG Professional Services Nigeria, Agnes Lutukai, said: “Half of the financial institutions in Europe are unprepared for the transition to IFRS 9 and the extent of work that may be required to achieve IFRS 9-compliant reporting

will be significant for banks in Nigeria, hence banks, insurance companies and other financial institutions should start IFRS 9 implementation in earnest, so as to effectively manage regulatory and business surprises.” She advised banks to use proven methodologies and an effective IFRS 9 software in various projects and that the FinTrak IFRS 9 solution be should be considered in every financial transaction.” The Executive Director,

Technical Services at FinTrak Software Company, Steve Ongharaka, said the “FinTrak IFRS 9 reporting solution remained an end to end financial instruments reporting system, from data acquisition/integration, data analysis/valuation, 12months Probability of Defaults (PDs) /Lifetime PDs computations, expected credit loss/impairment calculations, Credit Conversion Factor calculation, among others and all of these computational routines are processed automatically.”

Smile Offers Customers 200 Minutes Free Calls across Networks Smile Communications, the pioneer 4G LTE telecommunications service provider in West Africa, has commenced ‘SuperTalk’ promo, which offers customers on the Smile network, up to 200 minutes free calls to all networks in Nigeria designed to thrill its customers this Yuletide. Applauded by industry watchers as a worthwhile yuletide bonanza, customers on the network will recharge and enjoy incremental voice minutes based on their preferred data plan. A customer who purchases a 1GB data plan will get 10 minutes free calls with a validity period of 15 days. The purchase of 2GB data plan offers 20 minutes free calls also with 15 days validity period. Purchase of 3GB data plan offers 30 minutes free calls with 30days validity period. The 5GB and 7GB data plans offers 60 minutes free calls with 30 days validity period, while the UnlimitedLite, 10GB, 15GB and 20GB offers the customer

120 minutes free calls and 30 days validity period. The UnlimitedPremium, 50GB, 100GB and 200GB offers an unprecedented 200 minutes free calls time with 30 days validity period. A statement by the company indicated that the promo is one of the many ways the company has designed to richly reward customers for their loyalty. The statement enjoins customers of Smile as well as prospects to take advantage of the offer to maximise their call time to families and friends especially at this yuletide period. It emphasised that customers stand to benefit from ‘SuperTalk’ only to the extent of the renewal of their preferred data plan. On what informed the customer-centric initiative, the statement avowed that the offer remained a veritable tool to achieving the objective of providing Smile customers with affordable but high-end communication services.

Gionee Partners Etisalat to Unveil Gionee M6 Smartphone Gionee, in partnership with Etisalat, has unveiled its latest flagship smartphone device, Gionee M6 with unique proposition of Internet of Things (IoT). Speaking at the launch of the device in Lagos, the company’s Marketing Director, Shomoye Habeeb, said the new device could also serve as remote control for every type of television set, interacts with refrigerators and other home appliances. He said: “For the smartphone world, it is the best of times, as it is the time of bests. The Gionee M6 is a fresh evolution of the Gionee species that promises to raise the smartphone experience to newborn dimensions with a powerful battery, security chips and speed like never before.” According to him, as smartphone increasingly become an integral part of our lives, the importance of mobile security grows increasingly paramount. “Think about how much of our life is stored in that little device- private conversations and photos with loved ones; financial and employment information, detailed records of our daily habits. It is pretty scary, right? That is why Gionee makes mobile security the biggest priority with its newest smartphone, the M6 ‘the world’s safest smartphone.

Everybody needs space and speed and Gionee M6 can afford you plenty. Its internal memory is a whopping 64GB ROM which can store more of your files, music, games and movies. The M6 also has a 4GB RAM. You can open more apps at the same time with the support of Etisalat (4G LTE) services,” Habeeb said. He explained that the smartphone is capable of addressing issues with cybercrime. He also said that Gionee’s drive to provide extra security for smartphone was not entirely an altruistic one, adding that part of the direction was to distinguish M6 from the flood of new Android phones in the market. Giving details of the partnership deal between Etisalat and Gionee, the Head, High Value and Mass Market Segment, Etisalat Nigeria, Idowu Adesokan, said the network had launched 4G LTE service into the Nigerian market, offering the customers increased access to high speed data and quality voice services real time. He further explained that with the new technology and Gionee M6 device, the customers would enjoy efficient broadband internet and uninterrupted connectivity to increase access to online streaming and ultra-high definition videos.

MILITARY AND CYBERSECURITY

A cross section of Military personnel and other participants at a one-day conference on National Cybersecurity Awareness Month held in Lagos...recently

Turkish Airlines Selects Panasonic for Inflight Entertainment, Connectivity Turkish Airlines has selected Panasonic Avionics Corporation’s (Panasonic) advanced eX1 inflight entertainment and communications (IFEC) system and Global Communication Services for its new fleet of narrow body aircraft. eX1 solution is an advanced narrow body IFE system. Its uncompromising industrial design, high-definition display technologies and high fidelity audio create a home theater atmosphere that draws passengers into an immersive entertainment experience. The system will include Panasonic’s unique Passenger Data Integration (PDI) service, which will allow Turkish Airlines to add higher levels of personalisation to its inflight experience. PDI will also allow Turkish Airlines to seamlessly recognize the travel preferences of their guests and recommend content, services and amenities specific that will enhance their experience both in flight and in their destination city. PDI will leverage a customdesigned Companion App that will enable passengers to securely pair their mobile device to the IFEC system and personalise and enhance their entertainment experience through capabilities that include custom playlists and a second screen environment. The onboard experience will also include high-speed, global Wi-Fi and multiple channels

of live television, enabled by Panasonic’s Global Communications Services. It is the only worldwide inflight connectivity service operating in every country in the world today. Turkish passengers will be able to use the service to remain connected to their friends, families, co-workers though high speed access to the Internet, social media platforms, corporate VPN networks and more. Passengers will also receive live text news customised for Turkish Airlines by Anadolu Agency (AA), a leading Turkish news agency. The television service, which is unique to Turkish Airlines, will feature TRT World Turkish News Channel- a new channel from Turkey’s national public broadcaster, TRT, which broadcasts balanced, in-depth reporting with a focus on global responsibility. It will also offer eight additional global channels including Sport 24. Sport 24, which is owned and operated by IMG, offers live coverage of the world’s most popular sporting events. In 2016, the channel showed live action from the Rio 2016 Olympics Games, Premier League, NFL, UEFA Champions League, NBA, Tennis Grand Slams, Bundesliga, Golf Majors, MotoGP and the Ryder Cup. Panasonic Avionics is the only authorised distributor of Sport 24 to the air transport market.

NCC Calls for Improved Service Quality at Yuletide The Nigeria Communication Commission (NCC) has called on all telecoms operators in the country to ensure high service quality delivery on their various networks during the Yuletide. The Executive Vice Chairman of NCC, Prof. Umar Dambatta, who made the call at the grand finale of the NCC-Sponsored Telecoms Cup Tennis Tournament in Lagos, also explained that the yuletide was not like any other period of the year in terms of service usage. According to him, telecoms operators should envisage increase in volume of voice calls and data communication, and must do everything possible to ensure that customers enjoy full scale uninterrupted telecommunication service offering during the season. Dambatta, who was represented by a Deputy Director at the Commission Secretariat, Mr. Jerry Ugwu, charged operators to be prepared to fully cater for subscribers’ reliance on voice, data and short messaging service (SMS) in the period, adding that festive period would always witness increased traffic on telecoms networks. According to him, “NCC’s message on a good Quality of Service (QoS) is always consistence to serve the interest of all- operators, subscribers and stakeholders, despite that the players are believed to know the dynamics of the market and understand the

demand flow as well. “This is a period that traffic is higher and so, operators must be prepared to meet the demand because it brings business to them, and they too would not be happy should bad quality of service lead subscribers to deserting their (operators’) networks,” he said. The telecoms regulator also called the attention of operators to migration of traffic from major cities to the hinterland which might lead to the emergence of the need to adjust service distribution within the period. Meanwhile, the final game for the tournament between Nishant Abi and Walter Eze closed at 6-1; 6-1 with Eze, a veteran who had represented Nigeria in international tournaments in the past and already in his 50s lost to Abi in the exciting match. Also, Nishant and his partner won the Men’s Double in the tournament. In his remark, the Vice Chairman, Tennis Section of Ikoyi Club, Mr. Sunny Onegbu, commended the NCC for putting efforts into sustaining sponsorship of tennis competitions to rejuvenate the game in Nigeria, stressing that the sport was almost dying because of lack of sponsorship. “A long time ago, tennis used to be a very popular sport in Nigeria but not again. Today, it is football that attracts a lot of sponsorship because it is very popular.

T H I S D AY •THURSDAY,DECEMBER 29, 2016

BUSINESSWORLD

E-BUSINESS

Forum to Address Africa’s Challenges through IoTs Stories by Emma Okonji The Internet of Things (IoT) Forum Africa has concluded arrangement to hold the IoT Forum Africa 2017 in Johannesburg, South Africa, from March 29-30, 2017. The IoT forum has the potential to solve many of the issues the African continent is currently facing. Already many African countries have embarked on the IoT journey. For instance,

healthcare providers in Ethiopia are monitoring the health status of outpatients to better adjust treatment. Intelligent traffic lights in Nairobi are helping ease traffic congestion. Utility providers in South Africa are using load-limiting smart meters that can warn residents ahead of imminent controlled outages. In Nigeria, IoT facilities are being used to build smart cities. Unmanned aerial vehicles (UAVs), satellite imagery, DNA

StarTimes Launches Platform in Daura StarTimes, the foremost digital television network company, has launched its digital terrestrial television (DTT) platform in Daura, an ancient city in history of Hausa land. The unveiling of DTT decoder was remarkable to the people of Daura as NTA StarTimes network brought its network to Daura, the historical centre of heritage in Hausa State. In his opening speech, the representative of Director General of NTA, Mr. Maxwell Loko said, NTA StarTimes is present in about 80 cities in Nigeria and Daura as cradle of the Hausa state is not left. “Now the good people of Daura will have the opportunity to enjoy digital life, and with small amount of money they can watch nice television contents that will educate and entertain them under different TV stations especially NTA Hausa farin wata TV, Dadin Kowa, Liberty TV and so many other interesting TV Channels such as NTA parliament, a platform that enables the people interact with their representatives and other channels of interesting

forum, are optimistic that the IoT forum would address the African challenges. President, Information Technology Association of South Africa, Sunil Geness, who is one of the speakers, said the IoT potential is limitless and would address African challenges. Another speaker, who is the CIO Aon South Africa, Chandima Miyanadeniya, said “As technology advances and encroaches upon most people’s

day-to-day lives in some shape or form, people can expect more IoT enabled solutions that address the unique issues facing Africa.” According to him, IoT Forum Africa 2017 would bring together senior IT executives, service providers, developers and CxOs from diverse fields, with representation from healthcare, manufacturing, energy, utilities, rail, transport and retail, among others. According to the organis-

ers, keynotes and interactive sessions will focus on carefully selected topics such as: The IoT Revolution: From “Things” to business outcomes; Deploying an IoT solution. A strategic overview for decision makers; Creating a sustainable framework for IoT Integration; Creating value from connecting “things” and assessing the commercial feasibility and monetization of IoT, among others.

DTT

Indian movies, news and current affairs,” he said. The event featured a cultural display and drama with a popular comedian, Mr. MC Tagwaye adding colour to the event as he mimicked President Muhammadu Buhari in character, attitude and voice. He delivered a speech in guise of the president urging the people of Daura to patronise StarTimes, stressing the affordability and quality of the contents and programmes of StarTimes. “StarTimes model television is very easy to install and watch, the network is now moving from the urban centres to the rural areas so as to sustain the consumers’ enjoyment of digital entertainment,” he said. The representative of National Broadcasting Cooperation (NBC), Mohammad Alhaji Nanu, expressed his joy with the coming of StarTimes to Daura. Mohammad said the initiative would enable the people to have the chances to be part of global entertainment and news.

Civil Servant Wins N10m in Airtel RedHot Promo A civil servant, who works as a traffic officer with Ajeromi Ifelodun Local Government Area in Lagos, Mr. Oluwasegun Adesanya, has one N10 million in the on-going Airtel Red Hot Promo. He was with his immediate and extended family members to receive the cheque, when they all danced to popular inspirational tunes during a prize presentation ceremony to reward the second batch winners of Airtel Red Hot promo. Adesanya was the biggest winner of the week as he went home with N10 million after picking his cheque at a colourful prize presentation, which held in Ikeja, Lagos recently. The event was attended by officials of the Consumer Protection Council (CPC), National Lottery Regulatory Commission (NLRC), Nigerian Communications Commission (NCC) and TCQ & A, a leading systems and process audit firm. An elated Adesanya, who was dressed in a similar ‘asoebi’ uniform as his immediate and extended family members, said: “God has answered my prayers through Airtel Nigeria. I prayed every day for a miracle, and God has answered my prayers through this amazing promo. “As a matter of fact, I was

analysis and apps are being used as part of conservation efforts – by predicting poaching attempts and monitoring wildlife. The IoT is the next big wave in technology, with major repercussions for Africans. By connecting everyday devices to the internet the IoT opens up a host of new opportunities and challenges for companies, governments and consumers. Some of the speakers, who will be presenting papers at the

so happy after receiving the news from Airtel that I had won N10 million. I called my wife, children, older brothers and his family, to inform them and I declared a party instantly, asking everyone to make their orders. Indeed, this is a special moment for me. It is amazing and a wonderful time for me and I thank Airtel very much,” Adesanya said. Aside Adesanya, other winners were also rewarded during the prize presentation. Mr. Olawumi Olaosebikan, an iron fabricator based in Ogba, Lagos state, emerged winner in the N1 million category. “After learning iron fabrication, I have always wanted to start up my own business but I needed the sum of N500, 000 to do this. Airtel Red Hot Promo has given me the opportunity to be my own boss. This promo has changed my life and that of my family,” an excited Olaosebikan said. Another N1million winner, Mrs. Chinwe Okpanumee, said Airtel has written her name in gold through the win. “In this recession, while things are turning down for others, things are turning up for me. I see this N1 Million as N10 million. Airtel Nigeria has superceded my expectations this yuletide season,” she said.

A NEW BEGINNING

L-R: Managing Director, TD Mobile, Mrs. Gozy Ijogun; Chief Executive Officer, Slot Systems Ltd, Mr. Nnamdi Ezeigbo; Smartphones Business Lead, Lenovo Technologies West Africa, Mr. Manoj Rajasekharan and Distribution Channel Manager, Lenovo Technologies West Africa, Mrs. Tarae Onyeje, at the opening of Lenovo’s first brand store in Nigeria, located in Computer Village, Ikeja, Lagos...recently

Huawei Partners Porsche Design Huawei Technologies Begins Training for Immigration Staff to Create ‘A Dream Machine’ Huawei has collaborated with luxury lifestyle brand, Porsche Design to introduce the revolutionary Porsche Design Huawei Mate 9. The Porsche Design Huawei Mate 9 is a limited edition smartphone which combines Porsche Design’s signature brand aesthetic, Leica Camera AG’s iconic photography perfection and Huawei’s mobile engineering expertise, to give high-demanding individuals unprecedented luxury and performance in the palm of their hand. The phone has been dubbed the Dream Machine. “With seamless curved edges, a graphite finish and stylish colour combined with the latest technology, the Porsche Design Huawei Mate 9 creates an equilibrium of innovation, precision, aesthetic ideal and function. This is perfectly complemented ‘under the hood’ by a unique, intuitive user interface that exudes sophistication,” the company said. The collaboration between the two companies underscores their shared commitment to functional design, innovative craftsmanship and cuttingedge technology, and delivers highly discerning customers an unrivalled, premium smartphone experience, with revolutionary speed, extensive battery life and luxurious design cues. The Porsche Design Huawei Mate 9 comes equipped with the high performing Kirin 960 chipset, which Geekbench has labelled as the world’s high-

est performing smartphone processor, 4.0.0 multi-core CPU performance and DDR performance. It’s EMUI 5.0, an intuitive user interface that streamlines the user experience with the OS. For the ambitious business traveler, the dual SIM card enables convenient switching between two different SIM cards everywhere in the world. Commenting on the functionality of the Porsche Design Huawei Mate 9, CEO, Huawei Consumer Business Group, Richard Yu said: “We identified a new type of luxury consumer that is emerging. One who needs a smartphone that matches the special demands of their successful, global lifestyles. The Porsche Design is synonymous with excellence in innovation, unique design and perfection. It sets a new benchmark in design and performance and delivers a revolutionary smartphone experience that will enhance even the fastest-paced business and personal lifestyles.” With regard to the perfect partnership between the two companies, Chief Operating Officer (COO) and spokesperson of the Management Board of Porsche Design Group, Dr. Jan Becker said: “Huawei’s brand ethos mirrors our own commitment to premium innovation and functional design so we are delighted to partner Huawei to bring high-performance individuals the smartphone that they demand and deserve.”

Dele Ogbodo in Abuja Huawei Technologies has commenced training on information and communications technology (ICT) for staff of the Nigeria Immigration Service (NIS) in Abuja. The hands-on capacity development training on soft ICT skills, was conducted for about 500 NIS staff in nine designated centres in the country. At the commencement of the training programme at Huawei headquarters, in Abuja, its Managing Director, Mr. Tank Liteng, said the training would address ICT skills acquisition among NIS staff across various locations in the country. He said the training would be be done in Abuja, Lagos, Bauchi, Minna, Owerri, Ibadan, Kaduna, Makurdi and Benin City in Edo State. According to Liteng, “We believe that this programme will empower officers of the Nigerian Immigration Service with appropriate ICT skills and the awareness and soft skills that give competitive advantage globally to catch up with the world trends. Change Nigeria into ICT talents centre of the region and the world.” In his remarks, the Controller General of NIS, Mr. Mohammec Babandede, said the agency would engage the company in the training, designed to expose staff to ICT skills that will make them deliver more efficient services in 2017. According to him, efficient service delivery by NIS entails more revenue generation for

government, adding that NIS surpassed its 2015 revenue with N6 billion before the end of 2016. Babandede said the process of issuing resident permits and international passports could only be done hitch-free when officers of the service are fully ICT compliant. Babandede, while commending Huawei for its contribution to the technology development of the country, said: “Nigeria needs good brains that will transfer technology not people who will come with empty briefcase and go away with money from Nigeria. “Nigeria at this time wants good money invested in the country, but the the most important is that we want people who will provide work force for our citizens. We are passing through a difficult time where work is very important.” According to Liteng, a detailed evaluation of the requirement of NIS by the company necessitated the course outline of the training programme, adding that Huawei experts will conduct the training with actual practical experiences. “We understand the need to improve IT penetration that is why this specialized learning platform has been designed by our experts in the field of ICT industry talent cultivation, with the aim to help trainees obtain right competencies and skills that match their different positions in organisations,” Liteng said.

T H I S D AY • THURSDAY, DECEMBER 29, 2016

BUSINESSWORLD

E-BUSINESS

Opening New Vistas for Nigerian Businesses Kroll, a global provider of business intelligence and risk solutions, believes that good strategies and global best practices can reposition Nigeria’s business environment, writes Raheem Akingbolu With more than 35 offices in 20 countries around the world, Kroll, a global provider of business intelligence and risk solutions has been operating in the Nigerian market for over two decades, helping the country and her business enterprises to become stronger and competitive globally. During a recent visit to Lagos, its promoters had stated that the rebased Gross Domestic Product (GDP), which positioned Nigeria as number one in Africa, put the country at an advantaged position. They also suggested that the growing middle class that was then comprised about 73.4 million vibrant entrepreneurial workforce would continue to attract the attention of international investors. As a firm that has a strong global reach, Kroll does a range of activities including market entry strategies for businesses that want to invest in Nigeria. It also provides advice for Nigerian businesses looking to expand and partner with companies coming from outside. Through this, the consulting firm is helping Nigerian businesses understand what is happening in their supply chains. To forestall fraud and other challenges that come with today’s business environment, Kroll also provides cyber security and investigations as well as helping Nigerian banks understand what is happening to their non-performing loans. The company is working for Nigerian clients, many of them corporate, energy companies or banking groups, which are seeking to expand overseas or raise money on the international capital markets. In addition, the rise of internetenabled crime has seen increased levels of interest amongst Nigerian clients for Kroll’s cyber security services. Kroll’s team of experts has successfully provided strategies to companies operating in Nigeria across various sectors and has also created a strong road map to new international investors, willing to explore the market. According to Kroll’s Associate Managing Director, Alexander Booth, the firm has, thus, been engaged by some of the larger Nigerian banking groups to help make asset recoveries to offset their large loan exposures. “Kroll in the last one year has helped Nigerian banks to identify where their loans have not been performing. We have been hired to work with their legal team to carry out research and liaise on work overseas to help with recoveries. In manycases the borrowing will be in Nigeria but the asset will be in United Arab Emirate (UAE), South Africa, United Kingdom or Canada. The second area has been to help multinationals enter and navigate the Nigerian market. In that area, we are doing more work for companies which are not related to oil and gas. Nowadays, we are busy with fast moving consumer goods (FMCG), insurance, aviation, without the service sectors which I think is a reflection of the evolution of the Nigerian market. “We are helping them understand what their competitors are doing, the licensing and policy regime. We have assisted companies in Nigeria to battle counterfeiting, to ensure only their legitimate products are on sale. Kroll has history of working on this across sub Saharan Africa. Among other things, we are trying to help companies understand if counterfeit products are being made in the country and who is making themso clients can plan how to shut theoperations down,” he said. According to him, Kroll recently helped a client investigate a large scale fraud in relation to diesel procurement in one of its portfolio companies in Nigeria. “This involved imaging the laptops and email servers of the suspects, carrying out a forensic review of the books and records and supplier payments, interviews with members of staff, and intelligence gathering on the external actors who had colluded with the employees to make the fraud possible. We were able to quantify the scale of the loss to support their legal team in making recoveries, and to advise on procedures to reduce the chance of a similar fraud re-occurring,” he added.

Booth

12 months assessment Speaking on how the country has fared in the market over the last 12 months, the associate managing director said the demand for Kroll’s services has been increasing. “In the last year, we have seen a large demand for our services. For instance, a huge number of interests; both from international and domestic Nigerian companies have approached us for strategies on how to grow their operations. The complexity of this market has kept us and our clients very busy,” he said. In helping new investor in Nigeria and Nigerian investors extend their businesses abroad, the consultant admitted that there have been challenges but was quick to add that the opportunities are more. “It is a large economy although there are some challenges with foreign exchange, repatriation of capital and delays to some policy decisions. Apart from that, it’s an interesting promising destination for investors,” he said.

Potential of the Nigerian private sector The firm’s Senior Consultant, Mark Simmonds pointed out that the country’s private sector is dynamic with a huge amount of energy and ambitious organisations. He added that the roadmap plan of Kroll is not just to help Nigerian companies locally but to use the entrepreneur expertise to grow them across the whole of Africa continent and beyond. “There is a growing volume of intra-Africa investment and trade taking place and Kroll is well positioned to help Nigerian investors achieve their aim of expansion. So far, we have identified three important areas. First, cyber security and cyber investigation, which can contribute to reducing fraud.Secondly, to assist Nigerian businesses to understand and connect with relevant partners enabling them to attract foreign capital and partners. Thirdly,resolving challenges in the Nigerian supply chain to make sure money flows in the supply chain legitimately and smoothly. “Cyber security is a challenge in the UK as well. And it is an increasing area of importance as fraudsters are becoming more sophisticated. Likewise, businesses must becomemore sophisticated as well. They want to protect their goods, information and data. Kroll has skills and expertiseto help clients defend themselves against internet crimes and reduce their vulnerability to cyber crime,” he said.

“Kroll in the last one year has helped Nigerian banks to identify where their loans have not been performing. We have been hired to work with their legal team to carry out research and liaise on work overseas to help with recoveries. In manycases the borrowing will be in Nigeria but the asset will be in United Arab Emirate (UAE), South Africa, United Kingdom or Canada

Impact in Nigeria Looking back at the asset tracing and recovery side, Simmonds asserted that the firm’s impact has been very helpful. “We recently worked for an oil field services company. They are already in Nigeria but expanding and buying Nigerian businesses locally. We helped them to understand the target business, who are the owners, who are they connected to, on what basis were they winning contracts, what was the management team like, their strength and weaknesses in the market, what does the change of government mean for the business. Overall it’s about giving our client an insight into the environment, to seek what the risks are and where the exposure is. As a strategic intelligence and advisory firm, Kroll has continued to see real interest amongst its clients for the exciting investment opportunities offered by the Nigerian market,” he said. He made reference to how a leading Lagosbased banking group hired the firm to conduct a global asset search into a high-profile Nigerian businessman active in the midstream and downstream domestic energy sector.

“We recently advised a multinational consumer goods company on its move into the Nigerian market, helping them to navigate the complicated Nigerian political system and to understand more about their supplier and distributor risks. This enabled the client to structure its entry in a way that would allow it and its local partners to take best advantage of what is a very exciting opportunity in a market of some 170 million people,” he said. Outlook The experts unanimously agreed that international and regional investors are increasingly engaging Kroll for support in Nigeria – to increase their understanding of the country, or to deal with operational and strategic issues – despite the economic headwinds the country is currently facing. Although 2016 has been a challenging year for Nigeria – low oil prices have subdued economic growth, acute currency pressures continue, and policy direction has often been uncertain – the outlook in the medium term for this large and dynamic market remains highly favourable. As well as being Africa’s largest oil producer, Nigeria is an agricultural and soft commodities powerhouse, and has substantial under-exploited mineral reserves, with real potential to scale up output. Coupled with its important and diverse services sector, growing consumer markets, and vibrant and entrepreneurial business community, the country continues to attract a wide range of international and regional investors. Kroll is often engaged by these investors to support their entry to the Nigerian market. “We gather intelligence and draw on our deep regional knowledge to help our clients identify commercial opportunities in Nigeria, assess risks, analyse competitors, and carry out due diligence on acquisition targets or joint venture partners. The scale and sophistication of the Nigerian market generates high levels of interest,” he said. According him, their unparalleled investigative pedigree and forensic accounting capabilities also see them engage frequently in Nigeria to combat fraud, bribery and corruption. “We are ideally equipped to support private sector Nigerian clients which have suffered thefts of money, stock or sensitive data, and to support Nigerian government agencies involved in President Buhari’s laudable and ambitious initiatives to prosecute state corruption, reduce tax avoidance, and recover stolen sovereign assets from foreign jurisdictions,” Booth added. The recent award might be the confirmation of the bank’s leadership position in the market and a signal to the brighter future ahead.

9 T H I S D AY •THURSDAY, DECEMBER 29, 2016

BUSINESSWORLD

CONSUMER

Access Bank: The Making of a Global Brand Despite the challenging operating environment, efforts of managers of the Access Bank brand have paid off with its latest Bank of the Year award, reports Raheem Akingbolu Taking a business from the level of a company to a recognisable brand is always the desire of most business owners. However, experiences over the years have shown that starting a business is easier compared to growing it into an admirable brand. That explains why it is easier to companies while statistics of successful brands are minimal. This notwithstanding, a recognisable and loved brand is one of the most valuable assets a company owns. According to Nielson’s Global New Product Innovation Survey, 59% of consumers prefer to buy new products from brands familiar to them. As a small business, the survey established that one may be competing against big brands with devoted customers. That’s why brand owners always find ways to differentiate–with a solid brand building process of their own. Like few Nigerian brands that have become household names in the market, ACCESS Bank entered the market humbly about 26 years ago but with the ambition of becoming a solid brand that would command respect in many sectors. With an on objective, coupled with a properly aligned strategy and service offering, the bank has grown from that humble beginning into banking giant with reputation admirable reputation that transcends the local market. Today, the bank offer a full service commercial banking, operating through a network of about 305 branches and service outlets located in major centres across Nigeria, Sub Saharan Africa and the United Kingdom. The great work that has gone into building the bank into a formidable banking brand, beyond just a cool logo or well-placed advertisement, but in terms of the cutting edge strategy and precision-driven is not lost on industry watchers and has been fetching recognitions in various forms. Observers note with importance that the promoters of the ACCESS Brand followed a simple rule of branding; they started small with their branding and didn’t forget to focus on their target niche and audience first. They also craft a clear expression of what their company was most passionate about and added that within a short time, the bank became a major player in the banking sector focusing on four business segments: Personal, Business, Commercial and, Corporate & Investment banking. Bank of the Year Award Few weeks ago, the innovation and creative ingenuity of its handlers paid off as it was named ‘Bank of the Year’ at the 17th annual Bank of the Year Awards black-tie dinner in London. To analysts, the feat was not by accident, considering various positioning tools deplored by the bank’s promoters in the last 10 years. The award, which validates other nine international honors earned by the Bank over the past ten months for operational excellence, responsible business practices and technology-backed innovation, is unarguably one of the most coveted awards in the banking sector globally. Over the years, Access Bank has established a reputation as one of the most formidable financial institutions in Nigeria. This is unconnected with its impressive growth trajectory and contributions to the development of the Nigerian economy through empowerment initiatives and practical SME schemes. As an acclaimed innovative industry pioneer, the Bank has remained the choice of international financial organizations and multilateral agencies seeking partnership in Nigeria. The Banker Awards is an annual event of the Banker Magazine, a publication of the highly influential Financial Times of London; arguably the world’s leading monthly journal of records for the global banking industry, with expertise in monitoring and publishing developments in the African banking industry and beyond for more than 90 years. It is a mark of the award’s reputation that it was held in London, arguably the financial capital of the world. Analysts believe that the latest award

L-R : Dapo Olagunju, Group Treasurer; Rooselvelt Ogbonna, Executive Director- Commercial Banking Division; Group Managing Director/CEO, Herbert Wigwe; Chief Financial Officer, Seyi Kumapayi at The Banker Awards 2016 where Access Bank won “Bank of the Year’’ Award.

will further swell the bank’s reputational capital, particularly with international lending organizations and ease access to loan facilities whenever the bank needs one to further enhance its innovative service delivery a notch higher. Besides further swelling the banking brand’s reputational capital, observers contend that it has further position it in the global marketplace as one of the most successful banking brand in Africa and with an eye on the global banking landscape. For some of its pioneering initiatives and outstanding performances, the bank has earned a number of recognitions in the past months. The recognitions include the ‘Karlsrushe Outstanding Business Sustainability Award’, ‘BusinessDay Banking Award – CEO of the Year’, ‘BusinessDay Banking Award – Best Bank of the Year’, ‘EMEA Finance Best Bank in Nigeria Award’, ‘EMEA Finance Corporate Responsibility Award (Pan-African)’, ‘EMEA Finance CEO of the Year (Pan-African’ and World Finance Most Sustainable Bank of the Year Award’. Presenting the award, Michael Buerk, BBC News journalist, commented: “In spite of the challenging operating environment and rapid changes in the industry, Access Bank has remained a formidable institution. Specifically, the Bank has been a purveyor of innovation in the Nigerian banking space and consistently outperformed industry forecast. It is firmly believed that its operational model, risk management and governance framework, which enable sustained superlative financial performance need commendation”. Although this view is consistent with Analysts’ opinion on the Bank in the past one year, but its Group Managing Director, Herbert Wigwe who received the award for the Bank said, “While innovation, excellent risk and corporate governance framework might be the advantage we have over our competitors, the Bank is propelled by a vision of becoming the world’s most respected African Bank, and this requires us to do things differently to standout. He thanked the bank’s stakeholders for their support and assured them of improved performance in the years ahead”. Innovation As a bank that is being driven by innovation, a lot is daily being invested in technology to make banking seamless in all the markets where it operates. Generally, things are happening so fast in the banking industry that

many would think it is the only sector being driven by technology. The reason is simple; banking concerns all, whether old or young. But with many faces of online transactions that have been developed over time, the entire banking audience seems to be enjoying a kind of honeymoon. As the banking public continues to adjust positively to the new regime, promoters of various banks in the market have also seen the need to raise the bar in the area of innovation to give more value as well as having competitive advantage over others. To achieve a seamless mobile money services, most operators are re-jigging their mobile money strategies. Few months ago, Access Bank broke a new ground in innovation by introducing PayWithCapture, a mobile payment solution that permits customers to make payments by scanning a merchant’s pre-generated QR-Code using the camera of their mobile device or via a one-step Beacon-NFC System. This is happening at a time a consortium of six banks and Unified Payments inaugurated PayAttitude, an electronic payment scheme that allows transactions in both online and offline platforms. The two products, though share some features, they are different in many areas. The bottom-line however is that both are introduced to create a hitch free transaction for consumers. Two weeks ago, the bank launched the country’s first corporate-focused internet banking solution – “Primus” – to ease the complexities of daily supply chain and financial management of blue chip companies. The multi-transaction management software dubbed “a 21st century-game changer,” is one of the 200 initiatives announced by the Bank in July after the presentation of its 5-year strategy for 2013 to 2017. According to Group Managing Director/ Chief Executive Officer, Access Bank, Aigboje Aig-Imoukhuede, the product “does not exist in the Nigerian banking industry” and “will make every bank in Nigeria to rise to the occasion.” Beyond Margins CSR The role of Corporate Social Responsibility (CSR) to the overall success of any business has been well documented just as the importance of good corporate citizenship to bottomline has been well articulated in different business models. Little wonder that many businesses across different sectors now take CSR very serious.

According to the bank’s Corporate Social Responsibility Report, its CSR philosophy was developed in accordance to relevant international standards and guidelines such as the AA1000 Assurance standards and the Global Reporting Initiative (GRI) G3 sustainability reporting guidelines. The report focuses on the Group’s approach to sustainability with respect to specific environmental and social issues that were of interest to bank’s stakeholder groups. The bank has successfully made its impact felt in the area of Corporate Social Responsibility and empowerment. Recently, Access Bank Plc hosted an innovation challenge where several ideas were pitched by participants with a view to finding solutions to problems in agriculture, transportation, security and power, in line with its corporate strategy of developing innovative solutions that drive economic development. The Access Bank Innovation Challenge is a competition that invites teams of contestants to develop innovative solutions challenges noticeable challenges in the country, and provides them with educational guidance along the path to prototyping and possibly implementing their projects. The 2016 Access Bank Innovation Challenge focused on the Internet of Things (IoT), which connects billions of smart devices to the Internet. A total of 15 teams formed by the 76 attendees worked on solutions to problems in Agriculture, Transportation, Security, and Power. The N1 prize money was shared amongst the top 3 winners. The 1st, 2nd and 3rd prize winners received the sum of N500,000, N300,000 and N200,000 respectively. Victor Etuokwu, executive director, Personal Banking, Access Bank Plc, who addressed participants during the training workshops said one of the Bank’s core values is ‘Innovation’ and this is visibly rooted in the culture and attitude of the employees of the Bank. “When we talk about technology innovation, it is something dear to us at Access Bank. Innovation is unique because without innovation, we would not make the progress we seek to make. In Nigeria, we are in dire need of so many things and technology is one of the tools we can apply to every area of our economy. In Access Bank, we have used technology to change so many aspects of our operations,” he added. The recent award might be the confirmation of the bank’s leadership position in the market and a signal to the brighter future ahead.

T H I S D AY •THURSDAY, DECEMBER 29, 2016

BUSINESSWORLD

CONSUMER

Kafar: StarTimes Digital TV Will Boost Viewing Experience The Marketing Director, StarTimes, Mr. Oludare Kafar, spoke to Raheem Akingbolu on how the company’s newly unveiled innovation and smart option will grant users instant access to the digital TV train. Excerpts: technologies and exquisite craftsmanship. It is our belief that it will boost viewing pleasure and offer credible, quality and outstanding entertainment experience at a quite competitive price. The TV comes with 60 per cent lower energy consumption than CRT TV, designed for decorating a more fashionable space with its maximum thickness of 70mm and the minimum thickness of 13mm and Offer boundless viewing pleasure with 5mm ultra-slim bezel and silver skating blade stand which uplifts your viewing. Also, the combo decoder mode was deliberately designed recently with latest global technology to lavish subscribers with unprecedented access to digital television and entertainment. Interestingly, this new combo decoder works with both antenna and dish and offers all channels from both for the price of one. It also grants our esteemed customers access to over 100 channels across the genres with HD picture quality. This exciting option is on the new TV set.

What is the unique selling point of the StarTimes brand in the market? Over the years, StarTimes has been exploring various platforms to connect with the public, especially the subscribers. The number one thing that is driving the followership we are presently getting is our ability to embrace local content and this is one of the major requirements of the Nigerian Broadcasting Commission (NBC). We realise the need to collaborate early with various local content providers to offer quality content for Nigerians. Indeed, it has really helped us because today we have over two million subscribers just in four years, this tells you our level of acceptance and it is growing every day. StarTimes is the only Pay TV that provides Nigerians quality and in-depth local contents. We have moved past 40 per cent local content requirement of the NBC. Our customers are satisfied with what we are giving them. We embark on researches about what Nigerians want before we give out our content. Can you say Nigeria has fared better with the coming of Pay TV operators into the market? Beyond the entertainment advantage Nigerians are daily getting from the platform, Pay TV has impacted well on our social and business behaviours. It plays a critical role in the overall Nigeria broadcasting and content ecology. In the area of advertising and marketing, it delivers more value than what was obtainable before in the market. Finally, I think it is critical to healthy competition in the TV market, and to the realisation of a wide range of social benefits. What does the new product - the integrated HD digital TV set stand for the entertainment industry? It is a new dawn in TV viewing experience in Nigeria. With it, I can confidently assure our patrons that StarTimes is championing a movement. I am saying this in the respect that this is the first of its kind in Nigeria and even in Africa. Anybody who is interested can do a survey, launching a TV with inbuilt decoder is a new thing in the African market. Through the innovation, StarTimes is set to give viewers the best of both digital and terrestrial TV experience in one box. By buying just the TV, our subscribers can be sure of having all in one. No doubt, the introduction of the new product will increase demand for your service, how prepared is StarTimes for the surge? We are very prepared. We understand this because the first time we launched a TV in Nigeria, we were out of stock for so long. Based on that experience, we know what to expect. Besides, it is a good time for us to promote this. It is the yuletide period, when people tend to buy things and give gifts. This is our yuletide gift to Nigerians and we know that there would be a surge, so we brought in huge quantity to accommodate this. What’s the resilience of the product to weather? There is little resilience. The decoder is combo. Irrespective of where you are, for instance, you can easily switch from the satellite which is susceptible to weather to the terrestrial without you missing your favourite programme. It gives the flexibility form of satellite to terrestrial. We should not forget the fact that StarTimes has always been a friend of the masses. Has the company factored in the current economic situation in fixing price for the new product? We have carefully examined the price of other TV products in the market, coupled with the fact that it is a combo decoder in one. What we have priced is competitive to the price of an ordinary TV let alone the price of two decoders in it.

Kafar

If any of the rival operators decide to do something like this, what do you think would give your product an edge in the market? We are not a monopoly but what stands us out is our content, we give both quality and affordability. This is our USP and we would keep working on that. The brand has been around for years. What has been the staying power? I must use this medium to thank our customers in Nigeria for the patronage. We have been here for six years and still waxing stronger. The feedback has been good. We have improved on the weaknesses. And whatever our subscribers want we have given it to them. What they want is convenience and flexibility and that is exactly what we are giving with this new product. Convenience in that you buy the TV and you have access to inbuilt decoder with both satellite and terrestrial access. Flexibility in that you can switch to both platforms irrespective of the weather. How prepared is the group for the analogue to digital movement? We are very prepared as a stakeholder and we are doing everything humanly possible to demonstrate this. Our vision is to ensure that every Nigerian has access to digital TV at affordable rate. We have different products that appeal to different people. For instance, the DTT is there for the masses. For the upper class, we have the combo decoder and also for

those who want all in one, we have launched the new TV set. We want all Nigerians to migrate seamlessly to digital viewing. Does it mean that those who buy this can do without the normal TV? It gives you access to StarTimes quality at affordable content. And if a subscriber decides that he or she wants to fix in my game box, DVD, there are pots to accommodate any means of entertainment platform. In a nutshell, the new television product comes in three sizes and already available in the market. It is designed with in-built decoders integrated with the television, thereby saving users the stress of buying TV and decoder separately as well as clumsy wiring connections. The smart product comes permanently with over 100 pay TV and free-to-air channels and will grant users instant access to join the digital TV train as currently being promoted by the Federal Government of Nigeria. What informed the new product and can you please highlight its features? StarTimes is committed to new innovations and technologies that can enhance digital TV experience for Nigerians and Africans and rally the people to enjoy maximum TV entertainment at very affordable rates. The platform commits itself to providing customers with the most endurable Digital LED TVs and the most splendid viewing experience, integrated with the cutting-edge

StarTimes appears not to be doing much to appeal to consumers at the top echelon of the market or has the company left that segment for its main competitor? Let me start by stating that it is wrong to assume that StarTimes is not keen about a particular segment of the market. As at today, we are the most sought after brand in the Nigerian Pay TV industry and there are a lot of indices to establish this. Though we are concerned about providing affordable digital television to Nigerians, this has not affected our rating and appreciation. Currently, we have over three million subscribers. We started with about 40 channels and now we have about 150 channels. We began operation in two states, now we have almost covered the entire country and the profile is still growing. Our focus and resources have been channeled towards offering quality and affordable entertainment to every Nigerian household and the approach has kept us going. For many years in Nigeria, Pay TV was an exclusive thing for a particular set of people, but when Startimes came, we made sure we became friend of the masses. Five years ago, the platform was expensive and not affordable for a common man on the street but we changed the face of everything. Today many Nigerian can boast of quality and affordable Pay TV. We didn’t stop there rather we kept upping our game by improving on the values we offer Nigerians. In various categories at StarTimes Nigeria, we have the Digital Terrestrial Television (DTT) and Digital To Home (DTH). We have the StarTimes for DTT and Starsat for the DTH. We have been able to ensure that on both fronts, we are satisfying Nigerians. On our Starsat, we have over 100 channels and on both platforms we have channels that cater for every category of people. We have channels and programme for Children, teenagers, adult, men and women. We also have channels and programmes for sport and movie lovers (Nollywood, Bollywood, Indian and Chinese films). We have been able to offer a variety of rich and quality contents on a very affordable platform. Let me give you another secret. Our logo corresponds with the quality services we offer. The blue colour in our logo is about our superior technology, while the orange colour is about our friendliness. As an organisation, we are very friendly. We have an open door policy and also a dedicated network for customer care and we have, as well, trained personnel in these areas. We have been getting feedback from people and anytime we get feedback we always go to the drawing board and develop thing that can better the expectations of our subscribers at home.

T H I S D AY •THURSDAY, DECEMBER 29, 2016

BUSINESSWORLD

CONSUMER

Young Entrepreneur Launches Confectionery in Port Harcourt STories by Raheem Akingbolu Sweet Tooth Confectioneries has opened in Port Harcourt, Rivers State. At the launch, the shop dished out unique product offerings such as frozen desserts and pastries to its new customers, who received the products with tremendous enthusiasm. Located at GRA Phase 1, in the heart of city, the confectionery hopes to attract the urban, trendy and upwardly mobile Nigerians with its two complementary brands – Sweet Tooth Desserts & Pastries and The Corner Store Café. Speaking after the opening, the Chief Executive Officer of Sweet Tooth Confectioneries, Mrs.Tejumola Arigbodi, said her desire to establish the outfit was to have a competitive brand, a truly Nigeria brand that would appeal to the sweet tooth in every individual. “Sweet Tooth is actually a combination of everything sweet. We have the frozen desserts and pastries. By frozen desserts I mean gelato, artisanal iced cakes made with carefully selected ingredients and also frozen yoghurt. We also have our baked section with all kinds of cakes and not forgetting our candies,” she stated. “One thing I know is that everyone has a sweet tooth no matter how much we want to adhere to medical instructions, once in a while you want to indulge. Therefore as a company we are not saying that we have a target market, rather everyone is our target and our prospective customer, particularly as the Christmas celebration approaches. Essentially as a company, we aim to give you the very best

and as mentioned earlier, we don’t want you to go abroad again, we don’t want you to see these things on television and just keep wishing when it will happen in Nigeria, it is happening now,” she added. According to her, the business began with modest dreams. “The outfit started as just a candy shop and because I am a lover of children. If not for anything else, this business started on the fact that I wanted children to always have something to remember because their childhood memories will always stay with them. And from there I thought, oh some ice cream would be nice, and some cake and later I said okay, the fathers and the mothers will like to have something as well, they won`t stay at the candy shop without something to do so I conceived the idea of having a coffee or tea shop, where they could relax while they wait for their kids,” she said. She said starting a business such as the Sweet Tooth Confectionary, which took four years to bring to life, demanded an intense entrepreneurial drive. She said: “I grew up in Lagos and I guess I have always been an entrepreneur. I classify myself as more of a service provider. For me I have always loved food and hospitality. I started with a catering company and I saw the need to actually provide more than just the basic Nigerian meals and all of that. So I conceived this dream four years ago. I started educating myself through trainings abroad and here in Nigeria. I started aiming to be the best and getting to know what to do and putting the right things into what we have today.” Explaining why it took

A leading health maintenance organisations (HMO),Total Health Trust Limited (THT), is supporting The Bricon Foundation, a recently launched non-profit organization to drive the movement for the reduction of cancer incidences in Nigeria. The Bricon Foundation, co-founded by Abigail SimonHart and Dr Niyi Adekeye , is seeking to support patients and their families struggling with cancer through providing counseling, education, advocacy, free prosthesis and mastectomy products as well as assistance with sourcing funds for treatment. The World Health Organisation (WHO) estimates that over 100,000 Nigerians are diagnosed with cancer yearly and of that number a staggering 80 per cent die of the disease. Cancer indiscriminately affects at least two million people in Nigeria and the impact of the disease on families and communities is immense. Nigeria is ranked as the country with the highest cancer death rate in Africa. To drive the movement for the reduction of cancer

incidences in Nigeria, and as part of its Corporate Social Responsibility (CSR) programme for 2016, THT and The Bricon Foundation are partnering. The Bricon Foundation hosted a fund raising event tagged, “Keeping Hope Alive” recently in Lagos, where Abigail Simon-Hart, who is also a cancer survivor discussed the need for broader support for those diagnosed. She said: “Early detection of cancer is not enough, instead, we need to build the necessary support structures that assure patients quality of life and that cancer is NOT a death sentence.” The Chief Executive Officer of THT, Mr. Nick Zaranyika commended the founders of the Bricon Foundation for the sterling work they are doing in caring for those in need of assistance. He further stated that THT, as a leading player in health insurance and whose flagship plans provide cover for major healthcare such as cancer treatment, organ transplants and kidney dialysis provided material and financial support for the event and towards the care of cancer patients.

her four years for her dream to come to fruition, she said it was due to the harsh and unpredictable economic realities of Nigeria. “To be honest, doing business in Nigeria is very hard. Aside from the cost of dollar, you have to source your own electricity, security, you have rent to worry about and then you also provide your raw materials. So far, to be honest, the dollar is not doing justice to any business in Nigeria because we do not manufacture anything in Nigeria, so it is really hard, that is why it has taken us this

long. For a company that is starting in the United States of America or England, they probably would have started sooner than I did. For me, it has taken longer because each day you wake up to rising dollar cost and it’s almost like nothing is being done about it which is quite sad,” she said. Arigbodi noted that the peculiarity of Port Harcourt is her major motivation to site the business in the city despite the seeming challenging operational environment. “Port Harcourt is a very

peculiar market. I will almost say it’s a virgin land. I have been in Port Harcourt for quite a number of years, I have also visited other cities and I, as much as other people, have a lot to say about the city. I have looked at the positive and negative aspects of Port Harcourt and that’s why I decided to give it a shot. If you look at the negative, you probably would not do anything. I’m hoping for the best, I’m also positive because I know Port Harcourt will not disappoint. They are ready for this; Port Harcourt is ready

for this,” she said. On his part, an elated Chairman of the company, Richardson Arigbodi, expressed joy and thanks to God for granting they grace to nurture the dream to fruition. He acknowledged that it has not been easy getting to realise this dream and opening shop. He said having gotten to this level, the company can only grow stronger, adding that the company’s target is to go beyond the Port Harcourt branch, dominate the SouthSouth region and grow into an international brand.

PROMOTING AGRICULTURE

R-L: Minister of State for Agriculture, Heineken Lokpobiri; Divisional Head, Project and Development Finance, Heritage Bank Plc, Dele Faseemo and the Chairman, Triton Group, Ashin Samtani, during a tour of Triton Aqua Africa farm sites at Gambari Town in Oyo State… recently.

Expert Urges Rotary Club to Budget Allocation: Senate Agrees Prioritize Marketing, Youth with APCON on Increase Total Health Trust Supports Involvement Things may look up for the issue, especially as it concerns the Advertising Practitioners Coun- withheld allocation of the council to make good advantage Bricon Foundation to Fight Members of Rotary Club of Club cil of Nigeria (APCON), in the and possibility of reviewing the Lagos have been urged to of the opportunity by partnerCancer area of funding if the Senate current status of its funding,” find ways of attracting the ing to achieve its objectives. youth in their quest to serve humanity. While speaking at the annual President’s dinner programme organised by the club in Lagos, the guest speaker, Mr.Richie Dayo Johnson, who spoke on the theme: “Creating Synergy between the Media and the Social Sector for Economic Development” said time had come for the club to rethink its approach in the way it engages with the media saying that no one deserves to celebrate its milestone other than themselves. He said: “You need to blow your trumpet. There is a lot that rotary club can do if younger people are allowed to take the stage. We need to get out of the old ways. As a matter of urgency, we need to rethink our engagement with the media. The Club must redesign its communication so that the children can be more interested. We have got to do things differently. We have got to bring children into the organization by finding out what interests them, “ Johnson, who was once a media personality for a number of years, underscored the important role the media industry has played even as he tasked members of the

He said: “I can tell you that the media is ready to help. So, share whatever you have with them, tell them what outcome you would expect and be assured you will achieve it. We need to embrace the media, they will readily help you.” While charging members to rise up to the leadership challenge plaguing the nation, Johnson noted that members cannot afford to fold their arms while the country continues to suffer bad leadership. “We have a critical role in the development of both our economy and nation. We cannot afford to fold our arms while things continue to go bad. As Nigerians imbued with a sense of leadership, we need to rise up to the occasion. Government has no business in government or business.” Earlier, the President of the club, Mrs. Modupe Sasore, while thanking members for redeeming their pledge towards the forthcoming global foundation centenary, said the dinner became necessary because it is an opportunity for embers and non members to network with one another.

Committee on Information fulfills its promise to pursue the possibility of increasing the budgetary allocation meant for the council. Chairman, Senate Committee on Information, Senator Suleiman Adoke, who led other committee members to APCON Secretariat in Lagos, expressed concern over the way the council is being starved of fund. He advocated for an increased budgetary allocation for the regulatory body to enable it meet and deliver on its mandate as an industry watchdog, and also carry out more research into the sector. While pointing out the contribution of effective advertising to healthy living and sane society, he said consumers would be at the receiving end if APCON is not well equipped to vet advertising materials before they are exposed. “Advertising is important to economic growth because it is a platform through which brands and products can be built. As a nation, Nigeria needs advertising; both for destination branding and marketing of our potentials. It is unfortunate therefore that things are this bad but we will table APCON’s case before the national assembly to address the

Another member of the committee, Senator Dino Melaye, urged APCON to itemise its demand and send it to the national assembly. He argued that most parastatals are suffering because they don’t know the right way to channel their challenges. “Many parastatals find it difficult to approach the national assembly because of the fiat given by the office of the secretary general of the federation during the military regime that every financial issue should go through the office of budget and planning. Unfortunately, that does not work in a democratic certain,” According to him, the national assembly has the power to pass a proposal from any government pararastal into law. He added that if the general house seems to be busy to handle the situation, it will then be forwarded to the committee that is related with the issues. Earlier, Registrar and Chief Executive officer of the Council, Alhaji Garba Bello Kankarofi has expressed displeasure over the council inability to function properly as a result of its withheld budgetary allocation by the federal government.

T H I S D AY • THURSDAY, DECEMBER 29, 2016

BUSINESSWORLD

DEVELOPMENT

2016: Tit-bits, Nuggets on National Devt As the year draws to a close, Abimbola Akosile analyses some development initiatives and vital processes by government and other stakeholders in Nigeria which occurred during 2016

t only takes a moment for change to occur, either for better or for worse. However, the process may have a longer span. No one could have predicted that merely months after being rebased as the largest economy in Africa, Nigeria’s economy would be reeling from the blows and lows of recession. Development in Nigeria in 2016 is difficult to describe in a single sentence or paragraph, and several factors combined to bring the giant of Africa to her current state. Here are some of the issues that had direct and indirect impact on the country’s development process this year. Militancy Fallout The relative peace enjoyed in the restive Niger Delta region by the current administration in 2015 when it came into power was shattered in 2016 when the militants - working at cross-purposes among themselves - unleashed mayhem and destroyed key oil pipelines and installations in order to vent their anger against the government of the day. Various open and subtle attempts by the federal government to negotiate a truce and ceasefire in the course of the year were rebuffed due to disputes over adequate representation for the militants and the government’s perceived reluctance to meet some of the demands by the angry groups. Their actions severely reduced the crude oil output and export and this also played a role at the international market where the global price of oil had crashed to dismal lows. Nigeria’s curtailed foreign revenue could not meet the fiscal demands for budget implementation and debts piled up, with accompanying cash crunch and inflation. The country couldn’t execute the whole 2016 budget due to cash deficit and the federal government is trying to reverse this gloomy trend in 2017 with a N7.3 trillion budget of hope. It is hoped that the relative peace in the Niger Delta, the recent upsurge in the global price of oil, the growing foreign revenue and oil reserves will help Nigeria climb out of recession in the New Year. Corruption War The ruling administration based its governance strategy on three pivots including sustained war against official corruption, victory over insurgency and tackling of nationwide unemployment, and also prioritisation of agriculture. The first pivot which is fight against official corruption witnessed mixed results in 2016. Although the federal government is yet to fully prosecute, convict and jail a really ‘big fish’ like an ex-governor or a top member of the National Assembly, it made some successful forays into the judiciary; the third arm of government. To think of arraigning a judge in a court was previously unheard of, but the recent onslaught by the federal government against some top judges in the High, Appellate and Supreme Courts of law was unprecedented and a bold statement of President Muhammadu Buhari’s aversion to corruption and his vow to prosecute anyone found guilty of corrupt enrichment. Although PMB’s battle against the leadership of the National Assembly has seemingly lost steam in recent times, top officials in the armed forces were not so lucky, with some retired service chiefs being arraigned in court and others facing prosecution. However, many Nigerians believe the war against corruption is not comprehensive enough and that PMB is ‘shielding’ some of his ministers and kitchen cabinet members from prosecution on allegations of corruption also. But the new policy on whistleblowers getting a juicy 5 per cent cut of any recovered public loot upon provision of vital information is expected to rev up the fight against corruption in the country in 2017. Agric Impetus Nigeria benefitted immensely from agriculture in 2016 and is still benefitting from an upsurge

Fighting corruption on all fronts in agricultural productivity. While the federal government prioritised agriculture as a viable alternative to dwindling oil revenue in the course of the year, many skeptics thought the focus should be more on conquering local hunger than exporting ‘inadequate’ products to other countries. The interventions of the Central Bank of Nigeria, some other banks, research institutions and the private sector boosted the vital sector in 2016 and the inflow of cash and other necessary inputs helped to increase agricultural productivity to the extent where several grain and cash crops are presently being exported with still enough for local consumption. Rice production is currently going on in around 14 states across the federation, with the goal of achieving adequate local production in a year’s time, coupled with zero importation and high tariffs to discourage smuggling. Although there was a recent outcry and warning against imminent famine in January 2017 if the rate of export of grains from Nigeria continues, the federal government through the Ministry of Agriculture appears to have the situation under control. The increase in agri-processing especially aquaculture has also brought in much-needed foreign revenue

into the economy. In all, agriculture played a key role in Nigeria’s development process in 2016, and this is expected to continue in 2017. Quelling Insurgency Insurgency by the outlawed Boko Haram terrorist group in North-east Nigeria was a thorn in the flesh of the last administration and the negative trend continued in 2016, although the federal government backed up the Joint Multinational Task Force in fighting the hordes of Abubakar Shekau, leading to the final onslaught by the military forces and over-run of the previously dreaded Sambisa forest which was the last enclave of the insurgents. This recent victory has boosted the morale of the military forces and the image of the federal government on the international scene in its efforts to curb insecurity and ensure peace and stability, which are vital ingredients for investors’ confidence and desired foreign direct investment (FDI). With the discovery of some of the missing Chibok girls and return of relative peace to the troubled North-east zone – for the first time in years, Maiduguri celebrated a peaceful Christmas – both public and private investment

efforts are flowing into the region and this has had a direct impact on the development process of Nigeria in 2016. The trend is expected to continue in 2017. SDGS Scenario When President Buhari led the federal government delegation to the landmark 70th United Nations General Assembly in New York, USA in September 2015 (this reporter also attended the UNGA), it was a strong show of support for the new 17 Sustainable Development Goals (SDGs). Now, more than a year later, the country appears to have learnt from the implementation gaps of the previous Millennium Development Goals (MDGs). Although national efforts at domestication and implementation of the SDGs were showcased at the national stakeholders’ retreat organised in Abuja by the Office of the Senior Special Assistant to the President on the SDGs, the economic downturn in 2016 affected the drive to realise these goals speedily. However, with the proposed N7.3 trillion budget of hope for 2017, it is hoped that these goals and their 165 targets would boost Nigeria’s development process and status to a new high. That is a worthwhile goal.

RANDOM THOTS Dangerous Dilemma Recently, the Federal Government approved a new policy on whistle blowing that aims to encourage Nigerians to report financial and other related crimes to relevant authorities. According to the policy, whistleblowers whose revelations lead to recovery of money will be entitled to as much as 5 per cent of the recovered sum. The policy, which is a stop gap initiative until the National Assembly formally passes a law on whistleblowing, spurs citizens with information on financial crimes to disclose it, in a bid to strengthen the fight against corruption by the Buhari administration. Since that policy was unveiled around

a week ago, many Nigerians, including this reporter, have been doing mental calculations on what five per cent ‘commission’ comes to on recovered loot estimated in billions of naira. Despite some attached conditions like the information must be new; it must lead to actual recovery upon confirmation, and singular focus on public or government financial transactions, the new policy seems very attractive to some Nigerians who are privy to huge official corrupt deals and are sure their identities would be protected. However, this process smacks of a paw in a bottle where a monkey tries

to grab nuts in a securely-tied bottle and ends up being nabbed if unwilling to release the nut to escape. The issue here is that such clandestine looting involves as few key players as possible so any leak to government can be narrowed to a suspect observer. Until the whistleblowers protection bill is speedily passed by the National Assembly, such potential informants risk incurring the wrath of looters. It remains to be seen if the five per cent ‘carrot’ can adequately outweigh any element of risk to the informant. A delicate option... -Abimbola Akosile

T H I S D AY • THURSDAY, DECEMBER 29, 2016

BUSINESSWORLD

DEvELOpMENT/ISSUESINBOx

President Buhari

Your Ideal New Year Devt Gift from PMB? Aside the ongoing anti-corruption proceedings against some judges; a hopeful N7 trillion proposed 2017 budget, an upsurge in agricultural productivity, better international crude oil prices and a presidential directive to probe some top officials in the current administration, Nigerians still expect much more from President Muhammadu Buhari (PMB) to actually practicalise the change he promised on assuming power in 2015. As 2017 begins in a few days, what is/are your ideal New Year gift/s from the president in a bid to ensure desired overall development? Abimbola Akosile

THE FEEDBACK

* My own expectation is peace and unity. How can we have any positive development without peace? It comes before unity. PMB’s administration is so biased that even the outside world knows he has a hidden agenda on Nigeria and Nigerians, for God is after your heart and not your facial looks. At 74 years old, he has nothing else to do except to unite us. May God teach him what is right. - Hon. Babale Maiungwa, U/Romi, Kaduna

Top expectation:

New economic team

Second:

Leadership by example

Third:

Implement the budget strictly

Radical tip:

Jail a senior judge!

Total no of respondents:

Male:

* Firstly, he (PMB) needs a new, improved brain. Secondly, he needs a Nigerian flag, as opposed to his Arewa flag. - Mr. Ochereome Nnanna, Lagos State

Female:

Highest location:

Lagos (7)

* Now that the budget of 2017 has been presented to the National Assembly for deliberation, let lawmakers not hesitate to work on the budget for early passage into law to end the recession we are facing right now. I believe this budget will get Nigeria out of recession if it is well implemented to avoid cutting corners by the ministries. It is a budget of hope. All hands must be on deck to ensure the 2017 budget money is not diverted into private pockets for selfish interest. There must be transparency and accountability for every kobo spent in the budget. We will not continue to be fools every year; we must move forward. - Mrs. Ijeoma Nnorom, Lagos State * He (President Muhammadu Buhari) blew the whistle on the Treasury Single Account (TSA); let him collect one per cent (1 %) commission. - Mr. Wale Busari, Lagos State * So much food has already been exported out of the country as a result of the dwindling naira that food prices are bound to soar in 2017. The Federal and state governments ought to acquire and store some staples in order to mitigate the inevitable food shortage in 2017. Strategic grains reserves are in order.

The government should also try to strengthen the naira to reduce the rate at which our staples are being exported, because the lust for our African neighbours’ stable currencies by our businessmen is the main cause of the extraordinary food exports. Maybe we ought to be careful what we pray for. We should have specified that we wanted the economy-building exports, not this hungercreating one. - Mr. Buga Dunj, Jos, Plateau State * Okay, we are waiting for him in the New Year 2017. - Mr. Abiodun Oviedje, Lagos State * Nigerians should be optimistic that 2017 will be a better year to end recession and ensure economic recovery with the budget of hope President Muhammadu Buhari (PMB) presented to the National Assembly for passage and confirmation. Nigerians should support the government of PMB to move the nation forward, irrespective of party, political, religious or tribal differences. Nigerians who are asking for the returned looted funds can see it is now added into the 2017 budget for everyone to benefit from. This is a good one for PMB and the All Progressives Congress (APC) government.

- Mr. Gordon Chika Nnorom, Public Commentator, Umukabia, Abia State * Robust electricity, agriculture, information management and research are my deepest cravings from PMB in this promising New Year just around the corner. These are the missing bridges to our breakthrough or Promised Land. God bless Nigeria. - Mr. Apeji Onesi, Lagos State * Declaration of emergency on the power sector. - Mr. Feyi Akeeb Kareem, Coordinator, CDHR, Aniocha South, Delta State * Highly improved leadership through genuine patriotism, education, electricity and agriculture are what we urgently need to fast-track and transform our economy into a dream haven that Nigerians want very badly. Better, honest, focused and improved leadership will catapult Nigeria very high in the rudder of success, development and growth variously. So it is up to us the options we take and the strategies we apply too. - Miss Apeji Patience Eneyeme, Badagry, Lagos State * PMB should unveil a new economic team, a crack economic team in his January 1, 2017 speech. The indices are embarrassing. President Buhari should button up his ego and unleash on Nigeria a decision that we would gaze back at and say it positively turned things around. - Mr. E. Iheanyi Chukwudi, B.A.R. Associates, Apo, Abuja * He (PMB) should do a cabinet reshuffle and put competent hands in place. Communicate proactively with Nigerians on issues the people. Show empirical steps on how to bring Nigeria out of current economic doldrums, steps that can be monitored for progress. He must also show sincere empathy for the economic pains of all Nigerians. - Mr. Utibe Uko, Uyo, Akwa Ibom State

* PMB must set a fresh example in disciplined leadership by forcing those accused of corruption in his administration to step aside until investigations are concluded. He must also empower a proactive economic team to help him turn the economy around from recession to progression. Lastly, he must make sure he puts a senior judge in jail as soon as possible; that will send the best warning signal to potential looters and corrupt officials. - Mr. Olumuyiwa Olorunsomo, Lagos State

Next Week: To Get it Right in 2017, What Must Change in Nigeria? As the New Year 2017 begins next week, Nigerians have a lot of expectations in governance to rescue the country from the claws of recession and set it back on the path of prosperity. But just like you have to break an egg to get an omelet, some things have to change in crucial areas of the economy and society, for the citizens of this country to enjoy the dividends of democracy and gains of development in the New Year. To you, what priority things must change across board (from government to the ordinary citizen) for this to happen? please make your response direct, short and simple, and state your full name, title, organisation, and location. Responses should be sent between today (December 29 & Monday, January 2) to abimbolayi@ yahoo.com, greatbimbo@gmail.com, AND abimbola.akosile@thisdaylive. com. Respondents can also send a short text message to 08023117639 and/or 08188361766 and/or 08114495306. Collated responses will be published on Thursday, January 5, 2017

T H I S D AY • THURSDAY, DECEMBER 29, 2016

BUSINESSWORLD

DEVELOPMENT

Keeping Lagos safe: Men of the Lagos State Emergency Management Agency (LASEMA) and Fire Services in a rescue operation at the accident scene of a petrol-laden tanker at the Anthony Bridge inward Gbagada, Lagos...recently

Stakeholders Kick against Economic Partnership on Agricultural Produce between EU, ECOWAS Adedayo Akinwale in Abuja Stakeholders in agricultural sector from the sixteen Economic Communities West Africa States (ECOWAS) have kicked against the economic partnership on agricultural produce between the European Union and ECOWAS. They said such trade agreement would open up the regional markets in West Africa to imported subsidised food products from other continents. The farmers under the aegis of Association for the Promotion of Livestock in the Sahel and Savannah

(APESS), Confederation of Traditional Livestock Organisation (CORET), Network of Breeders’ Organisations and Pastoralists in Africa Reseau Billital Maroobe (RBM) and the Network of Farmers’ and Producers Organisation in West Africa (ROPPA), made the call in Abuja. They equally advocated for coherence, alignment and harmonisation in sectoral polices in agriculture in other to boost food production in the region. Speaking on behalf of the farmers ahead of the meeting of Ministers, the President of

ROPPA, Djibo Bangna stated that leaders from the West Africa tension must invest heavily in agriculture, insisting that if donor countries are investing in agriculture that they would draw policy that would be favourable to them. He added that farmers in the region share the ECOWAP’s vision of modernisation and agree on its importance with regard to the current issues of food sovereignty and climate change. According to him, “food sufficiency in the region cannot be achieved if policy makers and financiers of the develop-

ment of agricultural sector in the region conclude trade agreements that open up the regional markets to imported subsidised food products drop other continents.” “That is why the Regional Producers Organisation that President Muhammadu Buhari and outgoing President Yahaya Jammeh of The Gambia who refused to sign the Economic Partnership Agreement (EPAs) between the European Union and the ECOWAS countries. We urge other countries who have signed the EPA to review their stands at as to enhance local agricultural production

and intra-regional trade,” he added. Bagna stated that, “modernisation must respect the path, values and principles of family farming. Modernising also means relying on indigenous knowledge and enhancing it. Modernisation should not be an opportunity to exclude certain family farms from evolution but to allow diversification because it aims must be the fight against poverty and sustainable development.” He emphasised that significant investments are needed to make the sector attractive, as well as retaining young

people on family farms and to encourage their integration; thus avoiding exodus and exile. He also pointed out that the performance and viability of family farms in Nigeria and West Africa is also based on taking into account and valuing the role of women, the mainstay of processing, and valorisation of production. Bagna therefore advocated for effective policy coherence, alignment and harmonisation of the technical and Financial Partners (TFPs) support on orientations, objectives, principles, programmes and ECOWAP.

UNICEF Scores States under Enugu Field Office High in Promotion of Child, Women Health Decries under-five mortality rate of 2,700 deaths daily

Amby Uneze in Owerri The United Nations Children Fund (UNICEF) Enugu zonal Chief Field Officer, Mr. Charles Nzuki has scored the seven states covered by the zone high in ensuring the promotion of health facilities for the wellbeing of children and women in their various states. Such states, he said included Imo, Abia, Ebonyi, Anambra, Enugu, Cross River and Benue, THISDAY gathered. He, however, decried the Under-5 mortality rate of 2,700 deaths daily nationwide, insisting that a situation whereby

128 deaths per 1,000 live births are recorded portends danger for the country, even as efforts by UNICEF to ameliorate the dangers imposed towards children and women are intensified. Nkuzi, while speaking during the recent two-day 2016 end of year review /2017 planning meeting for MDAs in Abakiliki, Ebonyi State, nonetheless commended the government of the seven states in the zone for ensuring quality health care delivery for the benefit of children and women. According to him, “we have recorded a lot of changes and

success stories in these states”. He noted that during this year, Enugu State passed Child Rights Bill, while in Imo there was a successful coverage of immunisation of 95 per cent. He added that the Ebonyi State government actually released N1 billion towards revitalising the health sector, which needs to be greatly acknowledged. The UNICEF chief also stated that in Anambra, the state government had to privatise about 68 primary health centres (PHCs), including releasing funds to support them for optimal use, while in Abia

state, the state government established the primary health agencies through passing of the regulatory requirement law for its proper function. He stated that in Cross River and Benue States, the governments in those two states have done well in ensuring that they created enabling environment for their PHCs to function as well as putting in enough funds to promote health care in the states. “We see a lot of pillars that are functional and there are capacities to revitalising the PHCs in the states which are generally geared towards

improving the health of children and women”, he said. Highlighting on sectoral situation of children and women in Nigeria, the UNICEF Chief proposed an explosion of 250 million population of Nigeria by 2030 from her present size of 180 million, putting Nigeria growth rate to 7.5 million births annually. Nzuki observed also that the maternal mortality of 576 deaths per 100,000 live births, describing it as among the highest in the world, amounted close to 44,000 deaths annually. According to him, access and utilisation of services remains

extremely low as 3 million children remain un-immunised each year while 4.7 million of these children are not delivered by skilled attendants, expressing insufficient progress towards the MDG and the reason why Nigeria did not meet the Healthrelated MDGs. He also maintained that Nigeria, being the country with the second highest HIV burden globally of 196,000 adolescents living with HIV and 300,000 children currently living with HIV, contributes the highest number of new infections in children globally, describing the trend as unacceptable.

T H I S D AY • THURSDAY, DECEMBER 29, 2016

BUSINESSWORLD

DEVELOPMENT QUOTE OF THE WEEK

“When it pays us, we talk about federalism and true federalism; yet you want the president and presidency to talk about everything. When a thing like this (killings in Southern Kaduna) happens in a state, there is a chief security officer and he is supposed to be on top of the matter. In true federalism it is the governor that should be in charge and he (state Governor, Malam Nasir el-Rufai) is in charge of it” - SPECIAL ADVISER TO THE PRESIDENT ON MEDIA AND PUBLICITY, MR. FEMI ADESINA, SPEAKING ON THE KILLINGS IN SOUTHERN KADUNA

Lagos Lawmaker Seeks Strategic Devt of Education Sector Gboyega Akinsanmi

17,845 Petition National Assembly on Plight of Abuja’s Urban Poor Chineme Okafor in Abuja 17,845 persons living in Abuja and Lagos have written to members of the National Assembly to step up legislative actions that could improve the living conditions of poor residents of the Federal Capital Territory (FCT) Abuja. Led by an Abuja based non-governmental agency, the Media, Information and Narrative Development (MIND) which said it has been working with Abuja’s poor communities on their respective livelihood challenges, the petitioners through an online petition portal opened by MIND, asked members of the National Assembly to quickly legislate on laws that will step down poverty and step up human rights practices in the poor urban communities. During a recent march to the National Assembly Complex in Abuja where the 17,845-signed petition was presented to the Senate President, Dr. Bukola Saraki represented by Senator Dino Melaye, the project coordinator for MIND, Ummi Bukar stated that signatories to the petition were peacefully requesting the FCT administration and affiliated members of the parliament to support the adoption of policies and regulations to meet the needs of the urban poor, who constitute the vast majority of citizens in the FCT. Bukar explained that the citizens’ petition prioritised five key areas for action to improve the standards of living of urban poor residents in the FCT. According to her, these included access to livelihoods, water, waste management and sanitation, health care, as well as access to education. “These priority areas for public service delivery were identified by urban poor residents through bottom-up needs assessments conducted in four FCT communities

Kuchingoro area of Abuja - Kayache in Kuje Area Council and Bassan Jiwa, Kuchigoro and Karimo in Abuja Municipal Area Council. “The petition would be submitted to the following representatives of the FCT administration – the Minister of Federal Capital Territory, Alhaji Mohammed Musa Bello, Chairman of Abuja Municipal Area Council, Abdullahi Adamu Candido, and Chairman of Kuje Area Council, Abdullahi Galadima, hoping they will swiftly take action to meet their electorate’s peaceful demands for strengthened public service delivery to meet their basic human rights,” said Bukar.

She also noted that through the bottomup approach which MIND adopted in its advocacy for the poor rural communities, it had recorded some striking successes in improving the health, environment and livelihood challenges of the communities. “We are extremely grateful for these positive public responses to the bottom-up efforts of urban poor residents learning to play their democratic roles. We sincerely hope that this positive trend will be continued by our newly elected FCT administration, showing promising signs of democratic demand and supply that mark a healthy democracy,” she added.

A Lagos lawmaker, Hon. Lasbat Meranda-Lawal has canvassed the need to strategically reposition the country’s education sector and build capacity of the upcoming generations for sustainable development. Lasbat Meranda-Lawal, currently representing in Apapa Constituency I, has called on the youths in the state to shun violence and embrace peace while promising to empower them and make self-reliant. The lawmaker canvassed the position at a recent town-hall meeting in Apapa, where she distributed over 800 educational kits to the representatives of eight schools in her constituency. The town-hall meetings were held simultaneously across 40 legislative constituencies in the state and attended by party leaders, security chiefs, traders, captains of industries and traditional chiefs among others. At the Apapa meeting, the lawmaker identified major needs of her constituents to include roads, health and empowering the indigents, thereby promising to present their needs the Lagos State House of Assembly for deliberation and subsequent approval by the state government. She expressed resolve to do all within her capacity to position her constituency for future benefit, explaining the rationale behind the educational kits to 800 pupils from eight public schools in her constituency. Meranda-Lawal, thus, called for improvement in the system of education in the country, noting that there is urgent need for strategic development and that the governments should give priority to education. The lawmaker emphasised the need for governments at all levels to rescue the education sector as a condition for sustainable development, noting that every citizen should be availed the opportunity for personal development. She said once the pupils “are well-educated, the sky is the starting point for them. I believe so much in empowering the youth. They are the leaders of tomorrow. That is the main reason I am doling out these educational kits to 800 educational kits in all public schools in my constituency. “We have about eight primary schools in Apapa Constituency I. At least, we are empowering 100 pupils in each of the eight public schools. About 800 pupils benefitted from this initiative. Education and health issues are of so much concern to me, though my primary assignment. “As a lawmaker, my first job is to make law for the development and prosperity of Lagos. I believe I can make some things happen in my constituency. So, the little I can do as a lawmaker, I will stop doing it, at least for the purpose of making impact on my constituents. “Only education can provide such opportunity to citizens, therefore, governments at all levels should give priority to education. Education should be given priority and made accessible to all our children.” She explained the significance of the town-hall meeting, noting that much would be achieved when the constituents are afforded an avenue “to express their views on issues that pertain to their development. The essence of this is to get back to our constituents who elected all of us. Without them, we could not have been elected. So, we are representing them at Lagos State House of Assembly. “We must intimate them about what government has done since the inauguration of the 8th Assembly. Most importantly, they should be able to express their views as we prepare the 2017 budget,” she added.

T H I S D AY THURSDAY, DECEMBER 29, 2016

HEALTH & LIFESTYLE

Acting Features Editor Charles Ajunwa Email: charles.ajunwa@thisdaylive.com

Keeping Asthma under Check Like in other nations, the incidence of asthma in Nigeria is growing with over 15 million persons said to be asthmatic, and about 10,000 losing their lives annually to the ailment. Martins Ifijeh writes that proper management of the illness can help reduce its burden

s studies have shown that the prevalence rate of asthma is increasing across the globe with an estimated 340 million persons already affected worldwide, while around 250,000 die annually due to the scourge, available statistics show that by year 2025, over 400 million people would have been affected by the scourge. Though it used to be more common in developed countries, there are growing concerns that the prevalence is increasingly affecting people in developing countries, including Nigeria, due to environmental factors such as urbanisation, industrialisation and adoption of western lifestyle A recent report suggests that about 15 million Nigerians are asthmatic or have one respiratory disease or the other, while over 10,000 persons die of the disease in the country yearly; a finding that suggests the disease is now deadlier than the dreaded HIV/AIDs infection in the country. No wonder experts have raised the alarm that people are dying from asthmatic attacks in the country, a disease that otherwise can be well managed such that the affected persons would lead normal lives, devoid of the pains and stress occasioned by it Asthma, a greek word, which originally means panting, is a common chronic inflammatory disease of the airways, characterised by repeated symptoms, reversible airflow obstruction and bronchospasm, with common symptoms being wheezing (breathing with a whistle as a result of obstruction of the airways), coughing, chest tightness, and shortness of breath. In an interview with THISDAY, a public health expert, Dr. Isaiah Okpebho explained that people still die from it because majority of Nigerians do not know it can be effectively managed with new medical devices and drugs, adding that ignorance was why there were still high mortality rate of the diease in the country. He stated that although there was no cure for asthma, it can be effectively controlled, hence the need for increased awareness by all stakeholder, so that people will be informed on how to prevent and as well control it. “The high asthma deaths are tragic evidence of uncontrolled asthma and these are mostly preventable if control measures are effectively instituted,” he added. Explaining how persons affected by asthma can manage the diease, Okpebho said one major step was for them to recognise what triggers their attack and in turn avoid them. Adding that recognising one’s risk factors and avoiding them can go a long way in minimising episodes of the attack. “Parents should also make sure their asthmatic children avoid such triggers, as they may be unable to make informed choices by themselves. “Asthmatics should not assume they are fine, hence ignoring their drugs or inhalers. Medication should be taken regularly as prescribed. Those who have been given inhalers should use them as prescribed. Even if one has no symptom at all and feel well, he or she still need to take drugs or inhaler every day to help stay well,” he noted. Adding, he said: “Experience with asthmatic patients have shown that most of them who are supposed to make their inhalers their daily companion and are not doing just that, are people who are either shy of their condition or just assume episodes of the attack would not happen. “Asthmatic patients who really want to manage their conditions effectively must always inform all the people around them on their status. They should never leave their inhalers or drugs at home, because any unfriendly or polluted environment can trigger an attack,” he noted.

He explained that writing asthma action plan would not be out of place for persons affected. “Those who use written asthma action plan are four times less likely to have an attack that requires emergency hospital treatment. The action plan, filled together with a doctor or health worker, would tell the person what medication to take, when to take them, how to recognise triggers and what to do to get the body back on track. “Among the several million Nigerians suffering from it, only very few access health facilities for regular reviews. Everyone with asthma should have an asthma review with their doctor at least once a year (every six months for children). This is a good opportunity to check if they are taking the right medication and the correct dose. It’s also a chance to discuss trigger experienced, lifestyle and any other factors that may affect asthma,” he added. Okpebho also warned that asthmatics must shun certain lifestyle no matter how already deeply-entrenched they have been on the lifestyle or habits. “Asthmatics have no reason to smoke as this would in turn affect their health. Asthmatics who smoke or spend time with people that smoke are risking their lives. Asthma is very deadly and as such, prevention of its attacks must be followed. “Since children may not know exactly what to do at all times when asthmatic attacks come calling, it is important that schools are educated and empowered to help them. The schools should as well be taught rescue plan in cases of acute episodes of asthma. With this, I believe asthma will no longer be a death sentence,” he explained. Also on his part, a Medical Officer with Prince Fola Memorial Clinic, Abeokuta, Dr. Abel Babatunde, explained that Nigeria has lost many gifted and illustrious people prematurely due to asthma, adding that lack

of education and proper understanding of the disease was a major constraint in reducing the scourge in the country. “With proper understanding of the disease, many asthmatic Nigerians will realise that their types of job shouldn’t really be what they should be doing,,” adding that, “15 per cent of asthma cases in Nigeria have link with occupational hazards.” He recommended that asthmatics working inside paint making industries, textile, carpet, pharmaceutical industries, among others must take special care, as they are more at risk of exposure to irritants. But what causes asthma? Babatunde said the underlying cause was not known, but it’s thought to be due to a combination of genetic and environmental factors, nothing that, people with asthma may have genetic risk factors that make them more susceptible to it, and certain environmental factors, such as exposure to allergens or certain viral infections He listed common asthma triggers to include; tobacco smoke, dust mites, air pollution, pollen, mold, respiratory infections, rigorous physical activity, cold air and allergic reactions to some foods. While noting that most asthmatics who get triggers from tobacco may not necessarily be active smokers, he called on the government to enforce the ban on public smoking, which he said was only on paper and has not been enforced in reality. It would be noted that in a research conducted at Imperial College, London, it was discovered that there was a sharp fall in the number of children admitted to hospital with severe asthma after smoke-free legislation was introduced in England in 2007. The study, published in the country’s Journal Pediatrics, shows a 12 per cent drop in admissions the first year after the law banning smoking in enclosed public places came into force and a further three per cent drop in

each of the following two years. Babatunde, while explaining the diagnosis of the disease, said it shows up in different ways, adding that, some people sometimes first discover they have asthma because they have persistent cough or wheeze and shortness of breath that won’t go away. “It is also difficult for some people to know they have asthma because they think they are just getting frequent colds or other respiratory infections, but in reality, they actually have poorly controlled asthma. In other cases, people are misdiagnosed when they actually don’t have the condition. “People with obesity can have symptoms that mimic asthma, because extra weight can make the chest stiffer and heavier, which in turn makes breathing more difficult. Also, people with acid reflux or nasal allergies can have symptoms that mimic asthma,” he said. He said asthma was not curable, but that it could only be managed such that symptoms and even attacks would be reduced to the barest minimum. According to him, there were two types of medications to treat the disease; quick-relief medications and long-term medications. “Quick-relief medications provide relief from acute asthma symptoms. People with asthma should have a quick-relieve inhaler, as this immediately relaxes the muscles around the airways when applied. Long-term medications are typically taken daily to help prevent symptoms from starting in the first place. A common medication is inhaled corticosteroids, which reduce airways inflammation and make it less sensitive,” he added. He said it was important that people who take long-term medications do not suddenly stop taking it if they feel well, because symptoms can return. “But people who consistently take their medication end up taking less over the long term because their condition improves, and the dose can be lowered,” he noted.

T H I S D AY THURSDAY, DECEMBER 29, 2016

NEWS HIV/AIDS: Avoid Risky Behaviours this Season, NACA DG Tells Nigerians Martins Ifijeh As Nigerians join the rest of the world today to observe the Christmas and New Year holidays, the Director General, National Agency for the Control of AIDS (NACA), Dr. Sani Aliyu, has called on Nigerians to avoid risky behaviours that can propel the spread of HIV/AIDS in the country. He said while it was important to share and show love during the season, it would be very important Nigerians do this responsibly, as it is often a period for sharing quality time with loved ones, adding that, doing so will help the nation halt the spread of HIV/AIDS. In his Christmas message to Nigerians, he said: “There is a worrisome aspect festering during festive season, and this is the indiscriminate sexual and other negative activities during this period which can lead to uninformed decision making. NACA is appealing to the general public that, in sharing gifts among our loved ones, we should not share HIV and to also demonstrate our love by avoiding risky sexual behaviours,” he said. Calling on Nigerians to take a deliberate and bold step to

know their HIV status, he said, “statistics have shown that only about 10 per cent of Nigerians have ever taken an HIV test once, this is a major challenge which must be address urgently. The only gateway to HIV prevention, care and treatment remains HIV counseling and testing, so if we must win the battle, the percentage of Nigerians that test for HIV must move from the current statistics to at least 90 per cent,” he noted. According to him, Nigerians should make it a New Year resolution to know their HIV status while showing love and affection to person’s infected and affected by HIV. “As we go about enjoying the holidays, let us do everything moderately, avoid risky behaviours that can lead to HIV infection. It is good to abstain from sex if you are not married, use condom consistently and correctly if you cannot abstain and remain faithful to your spouses. Let us avoid the abuse of alcohol/drugs, it is important to drink responsibly if you must as most decisions taken under the influence might not be the best which may be regrettable later on,” he added.

Research Shows Higher Risks of Developing NCDs in Africa With millions of people in Africa predicted to die from Non-Communicable Diseases (NCDs) by 2020, the World Health Organisation (WHO), African Region, has supported countries to carry out surveys to identify the main causes of this rising trend. According to a report released by the WHO, that consolidates available data, these impending threats can be predicted because most adults in Africa have at least one risk factor that increases their chances of developing a life-threatening NCD, including heart disease, cancer, type II diabetes and chronic obstructive lung disease. The burden of illness, which has been gradually increasing over the past decade, will likely surpass the toll of sickness and death from infectious diseases by 2030. “Worldwide, deaths from NCDs will reach an estimated 44 million within the next four years, an increase of 15 per cent from WHO’s 2010 estimate. In recent years, much of the world’s attention and resources have, deservedly, been directed toward the immediate threat posed by emerging viruses, including Zika and Ebola,” said WHO’s Regional Director for Africa, Dr. Matshidiso Moeti. “What this reports serves to highlight, however, is that amidst these emergencies, we cannot lose sight of the enormous health dangers posed by noncommunicable diseases, especially since many of these can be prevented through

changes in behaviour and lifestyle. “Prevention of NCDs relies heavily on avoidance of four major behavioral risk factors: tobacco use, harmful use of alcohol, a poor diet (not consuming five servings of fruits and vegetables daily), and low levels of physical activity. In half of the African countries surveyed, one-quarter of adults had at least three of these risk factors, raising the probability that they will become ill with one or more of these conditions during the course of their lives. Most of these adults were likely to be female between the ages of 45-64,” he added. Dr. Moeti notes that these were diseases that can be life-threatening as well as debilitating, and they place a significant hardship on the region, robbing people and families of those who otherwise should be enjoying their most productive years. According to the acting Director, WHO’s NCD cluster, Dr. Abdikamal Alisalad, he notes the prevalence of hypertension, or high blood pressure in the African region was the highest worldwide, affecting an estimated 46 per cent of adults. “In half of the countries in the African region, at least one in three adults was found to be hypertensive. The high rates of hypertension are particularly worrisome, as hypertension is a silent killer, with most people unaware of their condition until it is too late.

Nigeria Needs 235,000 Doctors, Expert Says ... As IHS moves to improve doctor/patient ratio

Kuni Tyessi in Abuja For the attainment of global best practices and to ensure that every Nigerian can access medical care when the need arises, 235,000 doctors are needed to close the wide margin between the doctor/patient ratio, a continuous challenge that has posed as threat. Also, World Health Organisation has recommended a doctor patient ratio to be in the neighbourhood of 1:600 but currently, Nigeria posts 1:4,000; a condition many have described as abysmal. This was disclosed by

Ernest Nwokolo, Director, Global Fund Malaria when a mobile telecommunications infrastructure known as IHS blazed the trail in contributing to the health indices of Nigeria by rolling out community-based medical outreach initiatives in three communities per state including schools within Niger, Kogi, Nasarawa and the Federal Capital territory. He said the programme which is referred to as Community Health Empowerment Foundation (CHEF), a mobile health programme, which was conducted through a grant for

“Project Wellness on Wheels (WoW)” seeks to implement activities targeted at improving the health status and health indices of the country under the platform for immunisation, malaria diagnosis and treatment, HIV counselling and testing (including TB), child spacing/family planning. “Apart from the abysmally low numbers of health professional contributing to the poor health indices, other barriers such as geographical, social, religious and economic prevent people from accessing healthcare even when they are

available.” “Nigeria’s health indices have remained very poor due to the continued low investments in the health sector aside from the poor human resource capacity and the other barriers. “World Health organisation has recommended a doctor patient ration in the neighbourhood of 1:600 but currently Nigeria posts 1:4,000; a condition many have described as abysmal. With the current figures it is obvious that Nigeria needs over 235,000 doctors to be able to reach the WHO standards.”

CELEBRATING A FULFILLED YEAR

L-R: Executive Director, Emzor Pharmaceutical Ltd, Mrs. Uzoma Ezeoke; Founder/ CEO, Emzor Pharmaceutical Ltd, Dr. Stella Okoli; Nigerian Super Falcons’ Striker and Emzor Ambassador, Asisat Oshoala; and Vice Chairman, Famfa Oil, Folorunsho Alakija, at the Emzor’s Pharmaceutical Ltd annual thanksgiving at MUSON Centre in Lagos ...recently

MRTBAdvocates for Increased NGO Campaigns against High Professionalism, Intensifies Incidence of Colon Cancer in Nigeria Efforts to Fight Quackery Ugo Aliogo The Chief Executive Officer, Medical Rehabilitation Therapist Board (MRTB), Akanle Taibat, has called for increased professionalism amongst members of the physiotherapist profession, stating that the practice has been infiltrated by quacks who hide under the pretense of conducting home visitations for people, while parading themselves as physiotherapist. Taibat who disclosed this recently in Lagos during the induction of the 2016 graduating physiotherapy students and special award ceremony to honour Chief Olu Okeowo for the donation of a departmental complex, urged the graduating students to be professional in their undertaking and practice. She called on members to ensure that they obtain the professional practicing license before going into the practice, adding that there are some traditional centres that parade themselves as physiotherapy centres, but from investigations conducted, it was revealed that those centres were not certified; therefore they have requested that some of them remove their signboards.

Taibat further noted that they have requested the Corporate Affairs Commission (CAC) to stop registering people in the name of physiotherapy without getting a letter of introduction from the board, stressing that the letter is one of the requirements they have to present before they can register any business name under physiotherapy. She said: “We have written to the National Youth Service Corps (NYSC) to ensure that before they can allow any student into the camp as physiotherapist they must present evidence of their practicing license. Now we have samples of our licenses in all the states of the federation and the statutory authorities have swung into action ensuring that people present their licenses before they can be allowed into the camp. “We are improving in our accreditation; we are visiting centres to ensure that they are accredited, because accreditation is a standard control measure to ensure that the standard of the practice is being maintained in all our centres and institutions. In this regard, we have beefed up our efforts to ensure that institutions are accredited.

Martins Ifijeh A non-governmental organisation, Niola Cancer Care, has lend it voice to the high incidence rate of mortality cancers in Nigeria, especially colon cancer. Speaking during a visit and donation of gift items to cancer patients in Lagos State University Teaching Hospital (LASUTH), the chairperson of the organisation, Mrs. Eniola Salu, expressed concern that colon cancer patients were not given adequate attention needed to manage their health issue, just as cervical and breast cancer were being given attention. She said there were a lot of Nigerians battling colon cancer who need care, adding that, that was why her organisation was creating awareness against the relatively unknown cancer spectrum. “What inspired our donation here today is because of how I lost my late husband to cancer. On my website, I wrote about the story that redefined my living. “Why I chose Christmas Day for the visit is because on this special day cancer patients

need love. The survival rate for colon cancer is much better than cervical cancer but the death on colon cancer is on the high side because there is no strong awareness on it,” she said. In a bid to reduce the high mortality rate caused by cancer, she revealed the launching of a cancer screening centre which will cut across the six-geopolitical zones of Nigeria. She added that the screening centre will render services on early detection of cancer for early treatment, which according to her will reduce the death rate. “We are planning on launching the foundation, Niola Cancer Care Foundation and we are launching with a project; the colon cancer screening centre in the six-geopolitical zone of the federation. The more we raise funds for the cancer patients on time, the more their survival rate. If detected early through screening and awareness creation, the mortality rate will drop,” she explained. She therefore called on Nigerians to avoid risk factors for cancer

T H I S D AY THURSDAY, DECEMBER 29, 2016

HEALTH MATTERS

goketakinrogunde@gmail.com

HEALTH

By Goke T. Akinrogunde 07036777348; 07029126776

Asthma and Harmattan

t is harmattan session again and it is one period in the course of the year when asthmatics are likely to have resurgence in the frequency of attacks. This is especially the case because harmattan comes with cold and dust, two known triggers of attack in most asthmatics. What is asthma? Asthma is described as a chronic condition in which the airways undergo changes when stimulated by allergens or other environmental triggers that cause patients to cough, wheeze (musical notes arising from the chest), experience breathlessness and chest tightness. The word asthma originates from an ancient Greek word meaning “panting”. This word essentially describes what usually occurred in asthma attack in affected individuals implying an inability to breathe properly. When we inhale, the air passes into the lungs through progressively smaller airways called bronchioles. The lungs contain millions of bronchioles, all leading to alveoli, microscopic sacs where oxygen and carbon dioxide are exchanged from the lungs into the blood and vice-versa. Asthma appears to have two primary stages: hyper-reactivity (also called hyper-responsiveness) and the inflammatory response. Hyper-reactive response Here, smooth muscles in the airways constrict and narrow excessively in response to inhaled allergens or other irritants. It should be noted that the airways in everyone’s lungs respond by constricting when exposed to allergens or irritants, but people without asthma are able to breathe in deeply to relax the airways and rid the lungs of the irritant. When asthmatics try to take those same deep breaths, their airways do not relax and the patients pant for breath. Smooth muscles in the airways of people with asthma may have a defect, perhaps a deficiency in a critical chemical that prevents the muscles from relaxing. Inflammatory response The hyper-reactive stage is followed by the inflammatory response, in which the immune system responds to allergens or other environmental triggers by delivering white blood cells and other immune factors to the airways. These so-called inflammatory factors cause the airways to swell, to fill with fluid, and to produce thick sticky mucus. This combination of events results in wheezing, breathlessness, inability to exhale properly, and a sputum-producing cough. Inflammation, i.e. a reddened and swollen appearance, appears to be present in the lungs of all patients with asthma, even those with mild cases, and plays a key role in all forms of the disease. Symptoms of asthma Usually after exposure to asthma triggers, symptoms rarely develop abruptly but progress over a period of hours or days. In some cases, the airways have become seriously obstructed

Asthma can be effectively managed

by the time the patient even calls the doctor. Asthma is usually worse at night, and attacks commonly between 2AM and 4 AM – not palatable hours for doctors on call. Asthma occurs primarily at night in as many as 75% of asthma patients. This night time propensity is due to a number of reasons: chemical and temperature changes in the body during the night increase inflammation and narrowing of the airways, delayed allergic responses can occur from exposure to allergens during the day, and toward the early morning, the effect of inhaled medications may wear off and trigger an attack. As mentioned earlier, classic symptoms of an asthma attack are coughing, wheezing, and shortness of breath (dyspnea). Wheezing (i.e. musical notes arising from the chest) is usually present when breathing out is virtually always present during an attack. Usually the attack begins with wheezing and rapid breathing and, as it becomes more severe, all breathing muscles become visibly active, this include some muscles of the neck, intercostals muscles in-between the ribs and the muscles of the abdominal wall. Irritation of the nose and throat, thirst, and the need to urinate are common symptoms

and may occur before an asthma attack begins. Some people first experience chest tightness or pain or a non-productive cough that is not associated with wheezing. Chest pain, in fact, occurs in about three quarters of asthmatics; it can be very severe and its intensity is unrelated to the severity of the asthma attack itself. The neck muscles may tighten and talking may become difficult or impossible. The end of an attack is often marked by a cough that produces thick mucus. After an initial acute attack, inflammation persists for days to weeks, often without symptoms. The inflammation itself must still be treated, however, because it usually causes relapse, this explains the reason why anti-inflammatory medications like steroids are usually prescribed in asthmatic attacks. Asthma symptoms vary in severity from occasional mild bouts of breathlessness to daily wheezing that persists despite taking large doses of medication. Signs of severe asthma Without effective treatment during an attack, exhaustion may worsen respiratory function, and in rare cases, a life-threatening situation can occur. As the chest labours to bring enough air into the lungs, breathing often becomes shallow.

Lacking sufficient oxygen, the individual finds it difficult to complete a sentence when attempting to make a speech. In related cases, this insufficient oxygen can make the tongue, the inner lips and the skin become darkish and bluish. Similarly, in an attempt to force out breath against overwhelming obstruction and constriction of the airways, the flesh (i.e. muscles) around the ribs of the chest appears to be sucked in, and the patient may begin to lose consciousness. This is an emergency situation that requires prompt medical attention. Anyhow, an attack of asthma is potentially dangerous and it should be seen as such. Hence, the thing to aim for is to prevent a possible attack of asthma. Usually, the don’ts and dos for an asthma patient are normally spelt out at the time of diagnosis by the doctor and other attending health personnel. More important here is to avoid the following, especially during the harmattan season: Cold/ chilly bath, dusty play, being beaten by rain, fumes/smokes, make your inhaler handy always, and always remember that asthma is not a cause – you are one in millions of victims! I should however add that the list is inexhaustible in general terms.

One-on-One

Help for My Arthritis I read a write up of yours in THISDAY Newspaper and will be pleased if you can send me more information on the osteoarthritis, which you treated in the article. Also, oblige me the information of where I can go for treatment. Continue the good work. It’s being great efforts from your end. Thanks.

Okeke Dear Okeke, I am curious to know how you got your problem confirmed as a true case of osteoarthritis. This is because I am inclined to assume that if you were diagnosed properly as a case of osteoarthritis by a medical practitioner, the doctor would have gone to town to enlighten you in details about the implication of the diagnosis. However, it is worthy of recall that osteoar-

thritis is the “wear and tear disease” of the joints, where the bone and cartilage tissues at the joints, particularly at the gliding joints (knee, hip, elbow etc) undergo degenerative changes due to the mechanical effect of wears and tears. This can be likened to the wearing-off of the threading of motor vehicle tyres. Osteoarthritis is therefore expectedly more common among the older age-groups and, to some extent, in women because of change in the hormonal (chemical) balance in their

bodies, which favours such degeneration of the bone cartilages especially as they enter menopause. Meanwhile, I advise you to check on a medical practitioner for a proper guide on this matter on a one-on-one basis. The doctor may also decide to refer you to the Orthopaedic Surgeon or Physiotherapists who are those with the right expertise to handle bone and joint related problems. Best wishes this season.

T H I S D AY THURSDAY, DECEMBER 29, 2016

HEALTH

Online HMO and the Future of Nigerian Healthcare System The advent of online health insurance system in Nigeria by AVON HMO promises to change the Nigerian health sector for good. Martins Ifijeh writes Despite the enormous benefits of health insurance to a society, especially to low income countries where healthcare is still being paid from out-of-pocket, there remains apathy in accessing the healthcare scheme, which was designed to take medical financial burden out of the citizens. For Nigeria, healthcare players say only about four per cent of Nigerians are on health insurance even though legislations have been made to encourage Nigerians and stakeholders to take advantage of the system, which ordinarily should help provide better healthcare experience. The birthing of several Health Management Organisations (HMO) in the country has also not helped in increasing the number of Nigerians and organisations who should key into any health insurance plan. But this concern is not a challenge for developed nations like the United States and Britain due to various innovations and policies that have helped in making their citizens accept the scheme. For instance, there are adequate policy frameworks to encourage organisations to provide health insurance for their workers. S ame for families. Also, innovations like the use of social media has been a persuasive force and a more convenient way, as this has also helped them register for health plans and manage their subscriptions even in the comfort of their homes While the Nigerian government has a law in place mandating organisations with more than 10 employees to provide health insurance for their staff, lack of implementation of the law has unfortunately made it a toothless law, leaving the country with only an option to, like in U.S. and UK, provide convenient platforms for registering and managing health plans with a click away from their phones and computers, since already, 97 million Nigerians are already internet users, with majority

spending more time on the internet than anywhere else. It is in achieving this, and revolutionalising the country’s healthcare system, that AVON HMO is introducing the online healthcare platform, first of its kind in Nigeria, so as to savage the situation and then bring more information about health insurance to Nigerians even in their homes and on the go. According to the Chief Executive Officer of the HMO, Mrs. Adesimbo Ukiri, during the launch of the online platform recently in Lagos, said the burden of various diseases in the country must be reduced through decisive measures, one of which is the introduction of AVON HMO Online in Nigeria for quick, easy access to affordable healthcare, adding that, since more Nigerians were internet users, the online platform would help them take charge of their health even when they are not prepared financially for treatment should the case arise. She said in Nigeria, most expensive treatments are not covered by health insurance, leaving the citizens at the mercy of the disease, as this has somewhat increased the burden and prevalence of diseases in the country and in other low income countries, as against countries where health insurance is much embraced. On how the online platform works, Ukiri said with an internet enabled phone, tablet or computers, one can log into AVON HMO website and register for one of the health plans within five minutes. She said: “Many people today live life on the go and expect often immediacy. As the focus of Avon HMO remains on our customers, we constantly think of ways to make their lives easier and access to healthcare simpler. We embraced technology and chose to update our website so that people can subscribe to a health plan whenever and wherever they are, 24 hours a day, seven days a week. “People who visit our

Ukiri

website now can buy one of health plan for themselves or their families’ in the same way they shop for products and services online. Prospective members are just a few clicks away from subscribing to their preferred plans and this is extremely exciting.

“With health plans starting as low as N15,000 per year, we intend to bring quality service more to the people through the online platform. Subscription to an Avon HMO plan means that whenever a covered ill health or accident occurs, the state of

one’s finances won’t matter as Avon HMO oversees the healthcare service delivery and foots the bill. By giving people the ability to buy and subscribe online via mobile phones and other devices, we are bringing convenient and affordable healthcare services to everyone.” Ukiri said that since its entry into the health insurance space in 2013, Avon HMO continues to set the insurance industry alight with its customer-centric and innovative products, services and initiatives. Her words: “We have already developed a good relationship with hospitals we work with because we keep to our words; we pay within the timeline agreed. If you have somebody who is in a lower cost plan and the condition becomes critical, we will get you the best consultant in that field just

because what you paid in the premium is relatively low dose not entail we have to give you the least cost doctor. We give you the specialist that has the experience to manage your case.” The MD said they also work with the government tertiary institutions because that is where most of the exposed and experienced consultants are. On her part, the Managing Director, Integrated Medical Centre, Dr. Damilola Familoni, said while she was away in the U.S. and surfing through her Instagram page, she was surprised to see AVON HMO now on Instagram with health tips and need for people to subscribe to health insurance. “Social media and websites are a great way to breaking into the health insurance market in Nigeria where apathy still persists,” she added.

L-R: Founder and Chairperson, Niola Cancer Care Foundation, Eniola Salu; Public Relations Officer, Lagos State University Teaching Hospital (LASUTH), Mr Idowu Olasunkanmi; Niola Ambassador and Nollywood Veteran, Lilian Amah Aluko; and a Niola Team Member, Ms Olusola Beecroft, during the Christmas day visit of NCCF to cancer patients in LASUTH

‘Over 2,000 Forms Received on Adverse Side- NAFDAC Begins Mop-up of Imported Fruit effect of TB, HIV, Malaria Drug Use’ Juice Nationwide Over 2,000 forms were collected from participants of the training on the report of HIV/AIDS, tuberculosis and malaria adverse side effects of drug use in Nigeria. This was disclosed by the head of pharmacists and associate director of the Institute for Human Virology, Nigeria, Mr. Yohanna Kambai Avong, when the institute held a training session for adequate and concise reporting of the negative side effects of drugs as it relates to the three ailments which he said are the front- line killer diseases in Nigeria. He said deafness was one of the serious adverse affects in the use of TB drugs as the patient can become permanently

deaf even after the TB ailment has been cured. But when the adverse side effect is monitored early, a lot of things can be done such as changing the drugs and or provision of hearing aids. He said the importance of the workshop is to train and increase the knowledge of workers who are treating patients in the area of HIV/ AIDS, TB and malaria in order to increase their capacity in the reporting of the side effects in the use of the drugs. “Side effects are very dangerous and can harm an individual. The side effects need to be reported to the National Agency for Food and Drugs

Administration Control (NAFDAC) which is responsible for drug regulation in Nigeria. “The people that are doing this work are not many and so we got this grant from the World Health Organisation in order to train more people and deploy them to different parts of the country so that it will increase the reporting of adverse drug reaction in Nigeria. “All information from the field is transferred to the world health and they are able to use the information to regulate drug use globally. So essentially, the purpose is to increase the number of health workers that will report adverse drug reaction.

Following the Federal Government’s ban of imported fruit juice into the country, the National Agency for Food and Drug Administration, NAFDAC, yesterday began mop-up of all imported fruit juices nationwide. Addressing journalists shortly after the raid which took place in various markets in Lagos by the enforcement team of NAFDAC, Deputy Director, Investigation & Enforcement Directorate, Mr. Francis Ononiwu, decried the influx of imported fruit juices in the country, blaming it on the absence of the Agency’s staff at the ports. According to him, the FG as a matter of urgency should reconsider bringing NAFDAC

back to the ports in order to drastically reduce fake, counterfeit and imported banned products into the country. “We are all aware that most of these products come through the sea ports and NAFDAC is not on ground at sea ports, definitely, we cannot effectively stop the products from entering. That is a major challenge. If we are there the quantity will be much more reduced or eliminated. Federal government should reconsider taking NAFDAC back to the ports” Ononiwu explained that the mop –up exercise is ongoing nationwide, not only to meet the deadline for the exercise but also to create an enabling environment for local manufacturers of fruit juices

in the country. “These imported products are not registered by NAFDAC; they are unwholesome and fake and have been banned by the Federal Government. We don’t expect to see imported fruit juices in our markets today because we have enough fruit juice manufactured and produced here. Speaking during the exercise at Gbagada area of Lagos, team leader also from the Investigation and Enforcement Directorate, Mr. Carolly Ngobiri, said the exercise was in line with a circular of Dec. 19 from the Directorate, directing that an urgent visit to all markets and supermarkets in all states, be embarked upon, to mop-up these items.

T H I S D AY •THURSDAY, DECEMBER 29, 2016

BUSINESS/MONEYGUIDE

Report: Over 90% of Africa Has No Internet Access Obinna Chima

The internet is one of the most important enablers of social development and education. While internet services have been quite phenomenal in the rest of the world, access to the Internet remains very low in Africa, especially in the rural communities. According to a report, the Internet World Stats for Africa 2016, only 9.3 per cent of people across the African continent are Internet users. “A few years ago anyone who could not read and write was considered illiterate, but today this concept goes further, encompassing people who do not know how to use information and communication technologies. Health organisations and schools in Africa often face a unique set of obstacles, including a lack of access to much-needed health education

and counselling platforms. The Community Tablet was created to help solve these problems,” the report said. The report pointed out that in today’s digital world, bringing Internet access to rural communities was a tremendous step in the right direction of social development and education. “Mozambican technology start-up company Kamaleon has developed an innovative and engaging way of promoting digital literacy through a shared platform called the “Community Tablet” “The Community Tablet is a solar powered mobile computer with touch screen displays and virtual keyboards built in on a trailer to provide Internet access to remote areas. In order to facilitate interaction with the virtual world, Kamaleon also offers training on how to use the Internet and its features to members of the community and the local workforce,” it

added. Launched in November 2016 in Mozambique, the Community Tablet ultimately aims to promote digital inclusion and a knowledge based society in Africa. Beginning in Mozambique with an astounding 24 million people with no Internet connection, the Community Tablet will be used to support campaigns on various Health and Education initiatives in partnership with governmental and private organisations. Spreading up-to-date messages and interactive lessons that showcase symptoms, prevention and treatment options – replacing the need for leaflet distributions to convey life saving information. Kamaleon is on a mission to close the digital divide and empower more people in Africa to engage in the digital economy and its educational benefits.

‘Heritage Bank Has No Relationship with Heritage Capital’ Heritage Bank Plc has distanced itself from Heritage Capital Market Limited, which was recently suspended by the Securities and Exchange Commission (SEC). The commercial bank, in a statement yesterday, stressed that it has no business relationship or association with Heritage Capital Market Limited.

The statement added: “Our attention has been drawn to a certain recent publication in some of the national dailies regarding the suspension of a certain “Heritage Capital Market Limited” by the Securities and Exchange Commission “Our concern stems from the resemblance in its name to our organisation, and the impression that this might leave on the

minds of our dear customers. “We wish to hereby state that “Heritage Bank Plc has no business relationship or association with the affected company - Heritage Capital Market Limited. Heritage Bank Plc remains resolute and committed to our customer’s upholding in trust the privilege to partner with them in fulfilling your financial objectives.”

Sterling Bank, Partners BOI in N140bn Programme Sterling Bank Plc has said its partnership with the Bank of Industry (BOI) for the pilot phase of the N140 billion Government Enterprise Empowerment Program (GEEP) would bring succour to micro business owners – market women, traders, artisans and farmers. The programme is targeted at over 16 million beneficiaries to foster financial inclusion and economic activity at the micro level. The bank explained in a statement that its appointment into the GEEP may have been informed by its commitment in serving this segment of the population via its agent banking scheme. Agent banking is a process of providing limited scale banking and financial services to the underserved popula-

tion through engaged agents under a valid agency agreement, rather than a teller/ cashier. It is the owner of an outlet who conducts banking transactions on behalf of a bank. Under the pilot phase, Sterling Bank would disburse loans ranging from N10,000 to N100,000 per beneficiary covering up to 15,000 beneficiaries. Target beneficiaries include market sellers and traders, artisans, enterprising youths and farmers. Sterling Bank had in 2014 inaugurated its financial inclusion and agent banking initiative at Makoko, a Lagos suburb. The bank also currently runs a national medium, small, micro enterprise (MSME) Academy where small business owners are equipped on how best to manage their

business successfully. The statement, which confirmed that disbursement had commenced, added that the introduction of the mobile agent banking scheme using the BankOne solution provided by Appzone would facilitate easy disbursement of the fund to the beneficiaries. “We will also be leveraging on our agent network outreach, robust technology solution and the scalability of its operational scope,” the bank added. The bank explains how it works: “The fund is being provided by BOI and a collection account has been opened for BOI with the bank. BOI, through selected aggregators, enumerates beneficiaries from pre-registered market or trade associations in selected locations across the nation based on set qualifying criteria.

Ghana’s Q3 GDP Growth Rises to 4% Ghana’s Gross Domestic Product (GDP) growth in the third quarter of 2016 rose to four per cent year-on-year, up from 3.6 per cent a year ago due to increased oil production, the statistics office said on Wednesday. Reuters reported that for years Ghana’s economy grew at eight per cent annually on the back of its gold, oil and cocoa exports. But it has slowed sharply since 2013, in part because of lower global commodities prices. We saw the resumption of oil production from the Jubilee field ... and this contributed to the increase in GDP for the quarter,” acting government statistician

Baah Wadieh said, adding that the start of oil from the TEN Field also boosted growth. The growth is subject to slight changes as the statistics office agrees on a final number. The government of outgoing President John Mahama set a full year 2016 GDP target of 4.1 percent and said growth would jump to around 8 per cent next year as new offshore oil and gas comes on stream. Mahama lost a December 7, 2016 election to Nana AkufoAddo, who will take power next month. Many voters said they chose the opposition because of dissatisfaction with the government’s economic record,

particularly on unemployment and inflation. Akufo-Addo’s New Patriotic Party said it aimed to achieve double digit growth for every year of its four-year rule. The current government said the economy was hurt by a fall in global prices for the country’s gold and oil exports. Ghana is following an International Monetary Fund programme to reduce inflation and the deficit and restore fiscal balance. Ghana’s producer price inflation, a major component of consumer inflation, rose to 11.9 percent year-on-year in November, from a revised 9.7 percent the month before.

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JUNE 2016 Broad Money (M2)

21,684,965.22

-- Narrow Money (M1)

9,125,933.16

---- Currency Outside Banks

1,379,187.93

---- Demand Deposits

7,746,745.22

-- Quasi Money

12,559,032.07

Net Foreign Assets (NFA)

7,105,663.47

Net Domestic Assets(NDA)

14,579,301.76

-- Net Domestic Credit (NDC)

24,318,143.03

---- Credit to Government (Net)

2,893,190.01

---- Memo: Credit to Govt. (Net) less FMA

2,893,190.01

---- Memo: Fed. and Mirror Accounts (FMA)

-2,111,487.25

---- Credit to Private Sector (CPS)

21,424,953.01

--Other Assets Net

-9,738,841.27

Reserve Money (Base Money)

5,370,199.87

--Currency in Circulation

1,684,725.89

--Banks Reserves

3,685,473.98 • Source - CBN

MANAGED FUNDS Initial Price (N) Stanbic Balanced Fund

Buying Price(N)

Selling Price

1,660.29

1,685.29

Stanbic IBTC NEF

1,000.00

11,002.32

11,326.67.11

Stanbic SIBond

120.47

Stanbic IBTC Ethical

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

ARM Aggressive Growth Fund

N13.0544

N13.4480

ARM Discovery Fund

N288.2515

N296.9425

ARM Ethical Fund

N22.5268

N23.2060

ARM Money Market Fund

13.1030 (Yield % ) • Monetary Policy Rate - 14%

OPEC DAILY BASKET PRICE AS AT WEDNESDAY 21, DECEMBER 2016 The price of OPEC basket of fourteen crudes stood at $52.25 a barrel on Wednesday, compared with $51.99 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY • thurSDAY, December 29, 2016

Nigeria’s top 50 stocks based on market fundamentals

28-Dec-16

23-Dec-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

Table 1 Market Statistics Mkt Indicators

01 Dangote Cement Plc

174.00

0.00%

2,965,048,288,470.00

9.20

18.90

5.22

4.60%

3.96

02 Nigerian Breweries Plc

142.03

137.55

3.26%

1,126,170,199,122.64

4.03

35.20

3.73

2.53%

6.87

03 Guaranty Trust Bank Plc

23.39

23.43

-0.17%

688,395,282,049.36

4.90

4.77

1.71

7.57%

1.40

810.00

0.00%

642,051,564,120.00

8.81

91.92

3.72

3.58%

20.34

14.69

14.45

1.66%

461,214,493,716.34

3.91

3.76

0.97

12.25%

0.66

Table 3 Top 5 Gainers

370.50

0.00%

205,001,470,966.50 -44.58

-8.31

2.64

4.30%

0.52

Stock

07 Ecobank Transnational Incorporated

10.34

10.88

-4.96%

189,734,359,563.10

0.68

15.29

0.32

6.00%

0.30

08 Lafarge Africa Plc

40.95

41.00

-0.12%

186,523,229,119.50

-9.39

-4.36

0.87

7.33%

0.92

09 Access Bank Plc

5.97

5.69

4.92%

172,699,990,637.07

2.59

2.31

0.49

9.21%

0.39

10 United Bank for Africa Plc

4.60

4.50

2.22%

166,885,821,081.20

1.75

2.63

0.50

13.04%

0.39

11 Presco Plc

40.00

0.00%

158,819,081,800.00

0.03 1,368.00

2.23

3.25%

3.80

12 Stanbic IBTC Holdings Plc

15.66

14.92

4.96%

156,600,000,000.00

2.04

7.69

1.12

0.64%

1.33

103.61

103.87

-0.25%

134,950,067,081.83

3.31

31.34

0.88

3.33%

3.12

35.00

0.00%

132,415,368,750.00

0.69

50.57

1.99

0.14%

14.11

15 FBN Holdings Plc

3.50

3.40

2.94%

125,633,524,772.00

0.21

16.87

0.24

4.29%

0.20

16 Guinness Nig Plc

80.00

84.30

-5.10%

120,471,055,040.00

-3.06

-26.16

1.17

4.00%

3.06

17 Mobil Oil Nig Plc

292.00

280.00

4.29%

105,293,816,504.00

19.32

15.11

1.16

2.47%

5.69

18 Total Nigeria Plc

287.12

284.00

1.10%

97,483,509,839.44

38.02

7.55

0.36

4.88%

4.28

19 7-Up Bottling Comp. Plc

129.00

0.00%

82,636,156,827.00

-0.05 -2,824.30

0.89

1.71%

3.72

20 Dangote Sugar Refinery Plc

6.11

6.08

0.49%

73,320,000,000.00

1.03

5.95

0.51

8.18%

1.18

21 International Breweries Plc

18.50

17.94

3.12%

60,943,611,680.00

0.02

821.05

2.29

1.35%

5.56

4.59

4.50

2.00%

55,238,900,723.46

-3.15

-1.46

0.22

16.34%

0.35

23 Julius Berger Nig. Plc

38.58

0.00%

50,925,600,000.00

-2.95

-13.09

0.44

3.89%

2.68

24 Flour Mills Nig. Plc

18.49

0.00%

48,522,145,587.63

-1.19

-15.50

0.12

10.82%

0.49

25 Okomu Oil Palm Plc

39.52

0.00%

37,698,523,200.00

4.82

8.19

5.73

0.25%

2.34

0.90

0.85

5.88%

34,848,897,682.50

-0.47

-1.93

0.67

0.00%

0.47

04 Nestle Nigeria Plc 05 Zenith Bank Plc 06 Seplat Petroleum Dev. Co. Ltd

13 Forte Oil Plc. 14 Unilever Nigeria Plc

22 Oando Plc

26 Transnational Corporation Of Nigeria Plc 27 U A C N Plc

16.41

0.00%

31,521,384,590.67

3.37

4.87

0.42

6.09%

0.42

28 Fidelity Bank Plc

0.85

0.88

-3.41%

24,618,197,838.20

0.39

2.20

0.16

18.82%

0.13

29 Sterling Bank Plc

0.81

0.85

-4.71%

23,320,238,682.06

0.29

2.82

0.22

11.11%

0.28

32.00

0.00%

22,400,000,000.00

2.28

14.01

3.36

3.59%

13.09

31 Custodian And Allied Insurance Plc

3.74

3.93

-4.83%

21,998,172,089.30

0.76

4.90

0.60

3.74%

0.77

32 National Salt Co. Nig. Plc

8.19

7.55

8.48%

21,698,900,315.82

0.85

9.64

1.16

6.72%

2.93

33 FCMB Group Plc

1.08

0.00%

21,386,927,643.48

0.61

1.76

0.13

9.26%

0.12

34 Diamond Bank Plc

0.89

0.90

-1.11%

20,612,746,181.52

-0.29

-3.03

0.10

0.00%

0.09

35 Cadbury Nigeria Plc

10.83

10.03

7.98%

20,340,928,093.20

0.50

21.69

0.72

12.00%

1.99

0.50

0.52

-3.85%

19,287,233,040.50

0.06

8.39

0.38

0.00%

0.41

15.75

0.00%

18,835,054,686.00

-2.98

-5.28

0.67

1.90%

2.14

38 Mansard Insurance Plc

1.63

1.56

4.49%

17,115,000,000.00

0.28

5.85

0.86

3.07%

0.81

39 PZ Cussons Nigeria Plc

14.25

0.00%

14,250,000,000.00

5.69

2.51

0.99

0.70%

0.38

40 Continental Reinsurance Plc

1.00

0.00%

10,372,744,312.00

0.42

2.38

0.47

12.00%

0.55

41 Honeywell Flour Mill Plc

1.29

1.23

4.88%

10,229,954,978.82

-0.40

-3.19

0.21

12.40%

0.31

42 Unity Bank Plc

0.60

0.58

3.45%

7,013,602,765.20

-0.10

-5.85

0.11

0.00%

0.08

43 Skye Bank Plc

0.50

0.00%

6,940,150,705.00

-2.93

-0.17

0.04

60.00%

0.07

44 Wapic Insurance Plc

0.50

0.00%

6,691,369,126.00

0.18

2.78

0.85

6.00%

0.41

45 Cement Co. Of North.Nig. Plc

5.00

4.86

2.88%

6,283,388,830.00

0.22

22.84

0.56

2.00%

0.59

46 Resort Savings & Loans Plc

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

47 Nigerian Aviation Handling Company Plc

2.79

2.56

8.98%

4,531,570,312.50

0.15

18.46

0.56

7.17%

0.75

48 UACN Property Development Co. Limited

2.39

2.28

4.82%

4,107,812,488.05

0.30

7.99

0.97

29.29%

0.12

49 AIICO Insurance Plc

0.59

0.61

-3.28%

4,088,820,643.20

0.22

2.65

0.14

8.47%

0.40

50 Fidson Healthcare Plc

1.23

0.00%

1,845,000,000.00

0.24

5.23

0.28

4.07%

0.29

30 Cap Plc

36 Wema Bank Plc 37 Glaxo Smithkline Consumer Nig. Plc

TOTAL

8,624,679,021,857.09

TOTAL MARKET CAP

9,182,796,720,390.84

% OF MARKET CAP Annotation - MA* = Simple Moving Average

93.92%

NSE All Share Index NSE Market Cap (N'Trillion) Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Open 23-Dec-16

Close 28-Dec-16

Change %

26,486.02 9.11

26,688.25 9.18

0.76% 0.76%

110.01 8.57

110.77 8.62

0.69% 0.69%

Open Close Change % 23-Dec-16 28-Dec-16

Nigerian Aviation Handling Company Plc National Salt Co. Nig. Plc Cadbury Nigeria Plc Transnational Corporation Of Nigeria Plc Stanbic IBTC Holdings Plc

2.56

2.79

8.98%

7.55 10.03 0.85

8.19 10.83 0.90

8.48% 7.98% 5.88%

14.92

15.66

4.96%

Table 4 Top 5 Losers Stock

Open Close Change % 23-Dec-16 28-Dec-16

Guinness Nig Plc Ecobank Transnational Incorporated Custodian And Allied Insurance Plc Sterling Bank Plc Wema Bank Plc

84.30 10.88

80.00 10.34

-5.10% -4.96%

3.93

3.74

-4.83%

0.85 0.52

0.81 0.50

-4.71% -3.85%

Market Index appreciates by 0.76% Market pulse on the Nigerian Stock Exchange (NSE) today – Wednesday, December 28th, 2016 maintains its bullish trend as stock market closed green. This was further highlighted by positive performance from the NSE Subsectors: Banking, Insurance, Consumer Goods and Oil & Gas. Trading activities decreased in volume as 131.74 million shares worth of N1.25 billion in 2,257 deals exchanged hands today. This is a decrease from the 139.10 million shares worth of N1.43 billion in 1,703 deals which exchanged hands on Friday. Topping in volume terms are: International Breweries Plc, Transnational Corporation Of Nigeria Plc and FCMB Group Plc, while Lafarge Africa Plc and International Breweries Plc ended trading as the most active stocks in value terms. The All Share Index (NSEASI) closed positive with 0.76% (+202.23) increase to close at 26,688.25 from 26,486.02 the previous trading day. Market Capitalization appreciated in tandem to N9.18 trillion from N9.11 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed suit with an increase of 0.69% to close at 110.77 from 110.01 recorded at the end of the previous trading day, while its market capitalization stood at N8.62 trillion from N8.57 trillion of the previous trading day. A total number of 30 stocks gained on the bourse today while 18 stocks declined, leaving 51 stocks unchanged. Nigerian Aviation Handling Company Plc emerged as the day’s toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 8.98% to close at N2.79 per share. It was followed by National Salt Co. Nig. Plc with a gain of 8.48% to close at N8.19 per share. Others on the gainers list include: Cadbury Nigeria Plc, Transnational Corporation Of Nigeria Plc and Stanbic IBTC Holdings Plc; while on the decliners’ list, Guinness Nig. Plc emerge with a loss of 5.10% to close at N80.00 per share. It was followed by Ecobank Transnational Incorporated with a loss of 4.96% to close at N10.34 per share. Others on the decliners list include: Custodian And Allied Insurance Plc, Sterling Bank Plc and Wema Bank Plc.

REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the firm may have a conflict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

T H I S D AY •THURSDAY, DECEMBER 29, 2016

MARKET NEWS

NSE All-Index Rises 0.76% as Trading Resumes on Positive Note Goddy Egene and Nosa Alekhuogie Trading at the stock market resumed on a positive note yesterday after the two days holiday declared by the federal government to mark the celebration of Christmas. The Nigerian Stock Exchange (NSE) All-Share Index rose by 0.76 per cent to close higher at 26, 688.25, just as the market capitalisation of

equities appreciated by same margin to be at N9.11 trillion. The market has remained bearish for most part of the year and is heading for a third consecutive yearly decline. However, the 0.76 per cent recorded yesterday has reduced the year-to-date decline to 6.82 per cent. The appreciation recorded in the share prices of Union Bank, Transcorp, Access Bank, Stanbic

IBTC and Nigerian Breweries were mainly responsible for the gain recorded in the NSE ASI yesterday. Investors staked N1.25 billion on 131.74 million shares, down by 12.92 per cent from N1.43 billion invested the previous trading day. The three most actively traded stocks were: International Breweries (16.2 million shares), Transcorp (12.42 million shares)

and FCMB Group (11.65 million shares), while the most traded sectors were: Financial Services (78.42 million shares), Consumer Goods (19.29 million shares) and Conglomerates (12.92 million shares). In terms of sectoral performance, all sector indices closed in the green except the NSE Industrial Goods Index which declined by 0.02 per cent owing to price drop by Lafarge Africa Plc.

However, the NSE Consumer Goods Index (+1.5 per cent) led sector gainers, driven by the significant appreciation in Nigerian Breweries Plc (+3.3%), Cadbury Nigeria (+8.0 per cent) and Honeywell Flour Mills Plc (+4.9 per cent). Nigerian Breweries Plc recently got commendation from the Chief Executive Officer of the NSE, Mr. Oscar Onyema its commitment to corporate gover-

nance standards. The NSE boss also congratulated the company on its 70th anniversary and for winning the Most Compliant Listed Company award for the year. He disclosed that Nigerian Breweries was qualified to join the exchange’s Premium Board, the listing segment for the elite group of issuers that meet the exchange’s most stringent corporate governance and listing standards.

DAILY STOCK MARKET REPORT T H E

N I G E R I A N

STO C K

E XC H A N G E

T H I S D AY • THURSDAY, DECEMBER 29, 2016

MARKET NEWS

FMDQ Lists N42bn Worth of Commercial Papers Goddy Egene As the year comes to an end and the financial markets wind down to a close with hopes for renewed policies and reforms to boost economic activities come 2017, the FMDQ OTC Securities Exchange (FMDQ or the OTC Exchange) continues to lend its practicable and efficient platform to meet the funding needs of corporates and commercial entities. In

this regard, FMDQ has quoted Access Bank Plc N8.45 billion Series 1, N4.22 billion Series 2 and N22.33 billion Series 3 Commercial Paper Notes under its N100 billion Commercial Paper Programme and the UACN Property Development Company PLC N2.27bn Series 2 and N4 billion Series 3 Commercial Paper Notes under its N24 billion Commercial Paper Programme. These quotations came on the heels

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return. An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

of the recent listing of Wema Funding SPV Bond and the Sterling Bank Commercial Paper Programme These quotations bring the count of securities admitted onto the FMDQ platform this year to a total of 15. Some market analysts said the time to market of these securities lays credence to the efficiency of the FMDQ processes vis-à-vis the approving authority, the FMDQ Board Listings, Markets

floor of the Nigerian Stock Exchange. A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange. GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 23-Dec-2016, unless otherwise stated.

and Technology Committee, without undermining the quality of oversight provided. With its streamlined listings and quotations process, FMDQ has continued to provide opportunities within the markets under its purview, to support debt capital market growth in Nigeria and the continuous development of the economy at large. To develop and boost the growth of the Nigerian fixed income market, FMDQ

offers securities quoted on its platform, the unique opportunity for visibility and access by a large pool of investors (domestic and international alike), whilst providing the governance required to enforce credibility and transparency of information about these securities. According to FMDQ, Access Bank Plc and UPDC Plc have undoubtedly joined the host of other corporates

and commercial entities to benefit from the uniqueness and value-add provided by the platform’s listings and quotations service. The OTC Exchange, whilst remaining positive on the possibilities of the Nigerian debt capital market, will continue to articulate, with the efforts of its key stakeholders, ways to improve and make the Nigerian markets globally competitive, liquid and credible.

Offer price: The price at which units of a trust or ETF are bought by investors. Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return. NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Afrinvest Equity Fund 124.51 Nigeria International Debt Fund 221.87 ALTERNATIVE CAPITAL PARTNERS LTD Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price ACAP Canary Growth Fund 0.69 AIICO CAPITAL LTD Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price AIICO Money Market Fund ARM INVESTMENT MANAGERS LTD Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name ARM Aggressive Growth Fund ARM Discovery Fund ARM Ethical Fund ARM Money Market Fund AXA MANSARD INVESTMENTS LIMITED Web: www.axamansard.com; Tel: +2341-4488482 Fund Name AXA Mansard Equity Market Fund AXA Mansard Money Market Fund CHAPELHILL DENHAM MANAGEMENT LTD Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Nigeria Global Investment Fund Paramount Equity Fund Women's Investment Fund FBN CAPITAL ASSET MANAGEMENT LTD Web: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name FBN Fixed Income Fund FBN Heritage Fund FBN Money Market Fund FBN Nigeria Eurobond (USD) Fund - Institutional FBN Nigeria Eurobond (USD) Fund - Retail FBN Nigeria Smart Beta Equity Fund FIRST CITY ASSET MANAGEMENT LTD Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Legacy Equity Fund Legacy Short Maturity (NGN) Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Growth Fund

100.00

aaml@afrinvest.com Offer Price Yield / T-Rtn 125.55 14.32% 223.29 10.87% info@acapng.com Offer Price Yield / T-Rtn 0.70 11.75% ammf@aiicocapital.com Offer Price

Yield / T-Rtn

100.00

18.11%

enquiries@arminvestmentcenter.com Bid Price 12.34 288.18 22.36

Offer Price 12.71 296.87 23.03

Yield / T-Rtn 1.24% 3.11% 1.41%

1.00

16.83%

investmentcare@axamansard.com Bid Price 105.11

Offer Price 105.77

Yield / T-Rtn 5.44%

1.00 1.00 15.26% investmentmanagement@chapelhilldenham.com Bid Price 2.14 9.18

Offer Price 2.19 9.41

Yield / T-Rtn 5.10% -6.86%

83.41

85.55

2.84%

invest@fbnquest.com Bid Price 1,078.12 110.37 100.00 $104.21 $103.54 111.81

Offer Price 1,079.32 111.13 100.00 $104.44 $103.77

Yield / T-Rtn 5.19% 4.75% 15.05% 7.76% 7.10%

113.32

12.57%

fcamhelpdesk@fcmb.com Bid Price 0.91 2.56

Offer Price Yield / T-Rtn 0.92 0.55% 2.56 10.16% coralfunds@fsdhgroup.com

Bid Price 2,182.13

Offer Price 2,206.76

Coral Income Fund 2,098.04 INVESTMENT ONE FUNDS MANAGEMENT LTD Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price

Yield / T-Rtn 0.30%

2,098.04 10.89% enquiries@investment-one.com Offer Price

Yield / T-Rtn

Vantage Guaranteed Income Fund

1.00

15.86%

Vantage Balanced Fund

1.67

1.68

2.13%

LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.00 1.02 12.57% Lotus Halal Fixed Income Fund 1,006.37 1,006.37 0.64% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 9.49 9.58 -2.95% Meristem Money Market Fund 10.00 10.00 14.98% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.05 1.07 6.42% PACAM Fixed Income Fund 10.34 10.44 3.94% PACAM Money Market Fund 10.00 10.00 15.09% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 109.19 109.57 6.99% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.24 1.24 10.07% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 1,819.78 1,829.87 8.35% Stanbic IBTC Bond Fund 153.29 153.29 4.22% Stanbic IBTC Ethical Fund 0.76 0.77 2.00% Stanbic IBTC Guaranteed Investment Fund 186.59 186.59 9.96% Stanbic IBTC Iman Fund 129.75 131.39 -4.11% Stanbic IBTC Money Market Fund 100.00 100.00 17.22% Stanbic IBTC Nigerian Equity Fund 7,476.22 7,573.28 4.00% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.14 1.15 8.76% United Capital Bond Fund 1.22 1.22 16.32% United Capital Equity Fund 0.66 0.67 0.11% United Capital Money Market Fund 1.00 1.00 13.00% ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 9.72 9.88 1.81% Zenith Ethical Fund 11.09 11.19 -3.19% Zenith Income Fund 17.14 17.14 6.80%

REITS

NAV Per Share

Yield / T-Rtn

11.58 123.39

3.99% 6.51%

Bid Price

Offer Price

Yield / T-Rtn

8.78 75.13

8.88 76.55

-8.31% -9.73%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund

EXCHANGE TRADED FUNDS

Fund Name Lotus Halal Equity Exchange Traded Fund Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697

Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

2.70 6.96 12.07 15.61 127.80

2.74 7.04 12.17 15.81 129.80

18.03% 8.86% -2.62% -18.64% -

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

THURSDAY, DECEMBER 29, 2016 • T H I S D AY

NEWSXTRA

Chibok: Video Shows Shettima Querying Soldiers for Denying Parents Access to 21 Freed Girls A short video clip has shown Borno State Governor,

Kashim Shettima, querying the rationale behind soldiers

Train Carrying Soldiers, Civilians Crashes into Trailer in Kaduna A Lagos bound train from Kano collided with a trailer at the railway crossing in Kawo, Kaduna, and cut the trailer into two, the Federal Road Safety Corps (FRSC) said in Kaduna yesterday. The Sector Commander of FRSC in the state, Mr. Francis Udoma, told journalists that the incident occurred at 3a.m., adding however, that no life was lost. Udoma, according to the News Agency of Nigeria (NAN) explained that the train, carrying Nigerian soldiers and civilians, crashed into the trailer, belonging to W.A Group of Companies, carrying sugarcane. He said the accident occurred when the driver of the trailer insisted on crossing the rail line even when the train was blaring. He said the incident caused traffic jam that lasted for six hours. Udoma said motorist coming from Kano and other northern states, as well as those coming from the southern and the eastern part of the country were all stranded at the railway crossing. “We deployed our men, including myself, when we received the call, and arrived there to manage the traffic jam for hours. “We were there until 9a.m. before we were able to open

the road for motorists to pass through,’’ Udoma said. He blamed the accident on the impatience of the trailer driver, whom he said might be suffering from a hearing problem. “It could be that the driver had problem hearing, because trains normally will blare their horn, but this driver, even with the horn decided to cross. “This is abnormal. Nobody with normal hearing sense would take such a risk,” he said. The FRSC boss advised drivers with hearing defect to get hearing aids to avoid accidents. In a related development, Udoma said no fewer than 14 people lost their lives and 160 injured in accidents involving 53 vehicles from December 1 to date in the state. He said the 14 people were killed in 11 fatal and 23 serious accidents involving 332 people. Udoma, however, said the corps had rolled out several operations which began on December 12 to ensure safety on roads throughout the yuletide. “These include operation zero tolerance to accidents, special intervention patrol and traffic frequency monitoring. “The operations are being carried out in collaboration with the police, Nigerian Security and Civil Defence Corps, National Emergency Management Agency

Timi Frank: Oyegun’s Comment on Mega Party Reckless Damilola Oyedele in Abuja The Deputy National Publicity Secretary of the All Progressives Congress (APC), Mr. Timi Frank, has described as reckless, comments credited to the National Chairman of the party, Chief John Odigie-Oyegun, that the party is not bothered about the proposed mega party. Oyegun, in an interview granted in Benin-City was also reported as encouraging the formation of the party to ensure a formidable opposition against the APC as a way to build democracy. Such arrogant comments, Timi said, are capable of causing anger against the president. He added that rather than making such comments, Oyegun should concentrate on addressing the grievances of party members, and not divide them further. Timi, in a statement issued yesterday, said such comments were part of what led to the loss by the Peoples Democratic Party (PDP). “I think as a party, we should not undermine the strength of this much talked about mega

party, whether it is a rumour or not. I think we should do everything possible to defeat the move through genuine reconciliation within us,” he said. “We must remember that this is how PDP took APC for granted during formative stage, and the likes of Bamanga Tukur were busy saying ‘no vacancy at the Villa, PDP will rule for 60 years.’ But where are they today,” he added. “So, our national chairman should learn to reconcile aggrieved members instead of offending them the more. It has shown today that even a ruling party could lose election, so we should stop talking arrogantly because we are in power.” Timi added that the claim by Oyegun that he has met with some aggrieved APC leaders to strategise against the proposed mega party is false. “I can say this emphatically that my national chairman did not meet with any of the aggrieved national leaders of APC. If it’s true, then he should tell Nigerians when and where the meeting took place,” he added.

and men of Department of State Services (DSS), shielding the 21 Chibok schoolgirls recently released by Boko Haram terrorists from their parents during the Christmas celebration in Chibok. The video, which was obtained from a government official, showed Shettima directing soldiers and DSS officials to desist from denying parents rights to meeting their children. The

governor had been informed on arriving Chibok on Boxing Day that the soldiers had over restricted the girls to a government building and had stopped anyone from reaching them due to an “exaggerated fear not to loose any of the girls or for any family to pose threats.” The governor was in Chibok and other Christian communities in Askira-Uba as part of his outreach to Christians during the

Christmas. Shettima was said to have been irked by the restriction following which he invited all security heads as well as the soldiers and DSS officials guarding the girls for a moment with the girls. The governor said there was no point bringing the girls to Chibok if their parents and relations were being restricted from interacting with them. “As much as possible, General (speaking to a Brigadier

General, leading the security guards), let them mingle with their parents. No soldier or security man should be around them, give them that privacy. They have been without their parents for over two years. They deserve some pri v a c y. I don’t want any soldier o r S S S h a n g i n g a ro u n d them. Let them have a full time with their p a re n t s , ” S h e t t i m a s a i d in the video.

PROJECT INAUGURATION

Ondo State Governor, Dr. Olusegun Mimiko (middle); his deputy, Alhaji Lasisi Oluboyo (second right); Commissioner for Works, Mr. Gboye Adegbenro (right), Amapetu of Mahin, Oba Lawrence Omowole (left) and the Chairman, Ondo State Oil Producing Areas Development Commission (OSOPADEC), Johnson Ogunyemi (second left), during the inauguration of the reconstructed 34.62km Igbokoda-Ugbonla Road....yesterday

Catholic Priest Leads Protest against Electricity Black out in Sapele Gives BEDC seven-day ultimatum to restore power Sylvester Idowu in Warri Socio-economic activities were paralysed for several hours in Sapele, headquarters of Sapele Local Government Area of Delta State yesterday as residents staged a peaceful protest to the office of Benin Electricity Distribution Company (BEDC) over incessant power outages and outrageous billings. The protesters numbering over 5,000, carried placards with inscriptions such as ‘BEDC must go’ ‘Sapele need line 33 too’, ‘No light, no payment of bills’, ‘Disconnect all the leaders from line 33,’ among others. The protesters marched round the major roads in the town before rounding up at BEDC’s office ATP

and vowed to return in a week if their complaints were not attended to. Speaking on behalf of the protesters, at the gate of the company, the Priest of St Patrick Catholic Church, Sapele, Rev. Fr Christopher Ekibo, who led the protesters said Sapele indigenes were tired of living in darkness. The priest who brought along his light bills told BEDC officials that for a long time Sapele has lived with the reality of three hours electricity supply in a day and sometimes no power supply at all. He attributed the closure of companies in the town, especially Eternit Nigeria Limited that has moved to Enugu, to the poor power supply to Sapele, adding that artisans and SMEs were going through pains to sustain their

business and demanded for improvement in power supply. Others who spoke on behalf of the protesters were Cyprian Anyanwu who demanded the immediate supply of prepaid metres and Mike Egbune who said they would continue to advocate and fight for the people’s right. Also addressing the protesters, a chieftain of the All Progressives Congress (APC), Chief Felix Anirah, said, Sapele residents were tired of incessant power failure. He called on BEDC to listen to the people’s plight, adding: “You can see they are angry, only God knows what will happen if they return.” Responding to their complaints, Mr. Adekunle Tayo ,Head, Corporate

Affairs, BEDC said the low supply was due to low generation of power to the national grid. He explained that BEDC’s allocation has been nine per cent of whatever was generated nationally from which they now share among its four coverage states of Edo, Delta, Ondo and Ekiti states. He said they had overdrawn their allocation for Delta State from 31 to 41 per cent yet it was not enough to meet the required needs of custom e r s . Ta y o however assured that supply to Sapele residents will improve as soon as there is increase in allocation to BEDC from the national grid and begged the protesters to bear with t h e c o m p a n y.

THURSDAY, DECEMBER 29, 2016 • T H I S D AY

NEWSXTRA

NLC: Cut Lawmakers’ Emoluments for New Minimum Wage James Sowole in Akure The Nigeria Labour Congress (NLC) yesterday demanded downward review of

emoluments of members of the state and national assemblies as well as other public office holders to enable the government meet

FrieslandCampina WAMCO Sets Track Record in Safety Marks four years without lost time accident FrieslandCampina WAMCO Nigeria Plc ended the year with a new record in safety, health and environmental performance, recording four years without Lost Time Accident (LTA). Speaking in Lagos at an occasion marking the achievement, the Managing Director, FrieslandCampina WAMCO Nigeria, Mr. Rahul Colaco, said: “People don’t wake up in the morning expecting to get hurt. In FrieslandCampina, we believe nobody should be injured while at work. That is why ‘Zero Accident’ is one of our company’s 4-Zero KPI’s (Zero Accident, Zero Quality Defect, Zero Lost Sales and Zero Waste). “Zero Accident ensures that everyone working for FrieslandCampina, including our suppliers and visitors, return home safely and unharmed. This campaign is focused on simulating the right safety behavior where safety values drive continuous improvement,” Colaco noted. In addition to Zero Accident, FrieslandCampina WAMCO reduces cost of operations and impact on the environment with Zero Waste, using the 3R’s - reduce, reuse and recycle. Separation and segregation

of waste (paper, nylon, food waste, plastic) from source has substantially reduced waste, which is then evacuated for recycling by LAWMA-approved third parties. In September, the dairy giant was awarded “Company of the Year” at the Nigerian Safety Awards for Excellence - a platform that celebrates exceptional corporate initiatives that promote Health, Safety and Environment (HSE) best practices in the workplace. FrieslandCampina WAMCO Nigeria also celebrated its “Safety Day” with an update of its safety records board, a fitness walk, in-house safety contest and vehicular safety campaign by the Federal Road Safety Commission (FRSC). FrieslandCampina’s first life-saving rule is: “I am safe.” Corporate Affairs Director, Ore Famurewa, explained: “It is only through this approach that we will continue to succeed in setting safety records. As a company, we believe that if we are successful in working safely, we will be successful in all other areas as well and our consumers and business partners will also be safe.”

Araraume: Boko Haram Defeat will Enhance Economic Recovery Adedayo Akinwale in Abuja

He added that “booming economic activities will result A chieftain of the All Progressives in new jobs and controlled Congress (APC) from Imo State, inflation. Pain of recession will be Senator Ifeanyi Araraume, gradually eased off and Nigerians yesterday said the defeat of will bountifully reap dividends the Boko Haram insurgents of democracy.” would enhance economic The APC chieftain who is also recovery in the short and long a commissioner at the National run, while describing the Communication Commission liberation of Sambisa forest as (NCC) emphasised that with a landmark achievement for the the flushing out of the sect from President Muhammadu Buhari their last stronghold, President administration. Buhari has accomplished a major Ararume made this known electoral promise to defeat Boko in a statement he issued in Haram and enforce national Abuja where he noted that security. “We must commend both local and foreign investment the officers and men and women would be attracted by a more of the armed forces for their secured investment environment, gallantry. stressing that the 2017 budget Also, President Buhari of recovery now has peaceful deserves accolades in this environment for implementation. historical occasion. “I call on According to him, “The takeover all Nigerians to support the of Sambisa forest by the military federal government as it now is a symbolism of a new dawn focuses on economic recovery in the security sector which after it has crippled and wiped will now prepare ground for out that devastating insurgency. economic recovery. “President Buhari who deliversed Enhanced security will create on security promise will also enabling ground for flourishing deliver on economic recovery,” of economic activities.” Araraume said.

the implementation of new minimum wage for workers in the country in 2017. The umbrella body of the Nigerian workers also called for the provision of incentives to make agriculture attractive to young graduates in the country as one of the ways to stem the rising rate of unemployment. The Chairman of NLC, Ondo State chapter, Bosede Daramola, made the call in Akure at an end of the year forum organised by the state branch of the Agriculture and Allied Employees’ Union of Nigeria (AAEUN). The NLC and TUC had on May 1, jointly proposed N56,000 as new national minimum wage. Worried

by the state of the country’s economy and the high cost of living, the President of the NLC, Ayuba Wabba, had challenged President Munammadu Buhari not to jettison the increment in minimum wages from N18, 000, saying: “This is the logic used by United State to address recession.” According to Daramola, the current minimum wage of N18,000 can no longer sustain workers in view of the rising cost of essential commodities in the market occasioned by the economic recession and daily falling of the naira’s value against dollars. She said since workers and public office holders go to the same markets but collect

hugely different salaries, there was a need to cut the take home of the ministers, commissioners, federal and state lawmakers. Daramola also called for the blocking of wastages in government spending to allow federal and state governments save enough money for the payment of the new minimum wage for its employees. On the situation where majority of the state governments can’t pay the current minimum wage, the Ondo State Labour leader insisted that the upward review of minimum wage was a legal matter which must be followed irrespective of the economic status of the country.

Also at the forum, the state Chairman of the Joint Negotiating Council (JNC),Sunday Adeleye, and the state Chairman of AAEUN, Moses Adeusi, commended the special attention President Buhari’s administration was giving to agriculture sector, but expressed reservation over the inability of the government to devise policies that could take the nation out of the current economic recession. Adeleye and Adeusi noted that the harsh economic situation was having double effects on workers who were not paid regularly and adequately, adding that mechanised farming should be given priority by government to encourage young people to go into the sector.

OVER TO YOU SIR

Kwara State Governor, Dr. Abdulfatah Ahmed (left), receiving report on the creation of Local Council Development Areas (LCDA) from the Chairman of the committee, Alhaji Abubakar Kawu Baraje, at the Government House, Ilorin....yesterday

Ikpeazu Swears in Elected LG Chairmen as APC Kicks Emmanuel Ugwu in Umuahia It was a case of different strokes for different folks yesterday as Abia State Governor, Dr. Okezie Ikpeazu, swore in the elected 17 council chairmen and 292 councilors just as the opposition parties kicked and called for fresh poll. The state capital, Umuahia, was agog as thousands of people poured in to witness the inauguration of the new council helms men that emerged in the December 21 council poll which the ruling Peoples Democratic Party (PDP) totally won. But the All Progressives Congress (APC) said the swearing-in ceremony should not have held because “democratic process neither took place nor observed hence the December 21 charade could not be regarded or described as local government election in the state.” While addressing the new

chairmen, deputy chairmen and councilors after taking their oaths of allegiance and office, Ikpeazu apparently brushed aside the whining of the opposition, saying the election was “a milestone.” He said in deciding to hold the council poll, he was torn between doing what is right and doing what is convenient, referring to using transition committee chairmen to run the council areas. “We decided to choose that which is right over and above what is convenient,” he said, adding: “The aim is to deepen democracy in the grassroots.” The governor said despite the harsh economic situation, he still went ahead to keep his promise of returning democracy to the grassroots after more than nine years, adding that the benefits of democratising the third tier of government far outweighed every other consideration. Ikpeazu charged the new chairmen to exploit the

economic potentials of their respective council areas and leverage on their comparative economic advantages to make the local government viable and sustainable. “The challenge is open to us today to take our destinies in our own hands,” he said. However, kicking against the outcome of the local government poll and inauguration of the PDPdominated chairmen and their deputies, a forum of APC chairmen and deputy chairmen accused the governor, PDP and the state electoral body (ABSIEC) of conniving to scuttle the electoral process. In the 10-point statement signed by the Chairman of the forum of APC chairmanship and deputy chairmanship candidates, Hon Ebere Uzoukwa, and Publicity Secretary, Chief Ejiofor Okeudo, the forum called for fresh local government election. “Our stand remains that ABSIEC is yet to conduct local government election

as proposed in the state,” the forum said, adding that it was regrettable that the governor was involved “and personally supervised this alleged electoral fraud,” contrary to his earlier promise of free and fair poll. APC had fielded 11 chairmanship candidates in the December 21 council poll but did not win any seat just like other opposition parties as the state electoral body declared all PDP candidates victorious. The APC candidates specifically called for the resignation of the Chairman of ABSIEC, Justice Igbozuruike Akomas (rtd), “for committing the worst electoral crime in the history of the state and Nigeria. “We are deeply shocked that a retired judge will disband his conscience and integrity of the bench and willingly submit himself as tool in the orchestrated ploy to rob Abians the democratic opportunity to elect their leaders at the local government level,” the aggrieved APC candidates said

THURSDAY, DECEMBER 29, 2016 • T H I S D AY

NEWSXTRA

Lawmaker: N5tn Projects are Abandoned in Nigeria A member of the House of the Representatives, Dr. Abbas Tajuddeen, has said more than N5 trillion government projects have been abandoned across Nigeria. Tajuddeen, representing Zaria

Federal Constituency, told the News Agency of Nigeria (NAN) in Zaria that the situation had caused huge losses. He said the bill for the amendment to the Public

Three Edo LG Councils Received Zero Allocation from Federation Account in November Adibe Emenyonu in Benin City Three out of the 18 local government councils in Edo State were reported to have received zero allocation from the Federation Account for the month of November. Against this background, the affected councils namely Oredo, Orhionmwon and Uhunmwode have been advised to look elsewhere to augment their finances. Briefing journalists after the joint allocation committee meeting of local governments in the state held at the Government House, Benin City, yesterday, the spokesman of the heads of local government administration, and head of Esan South East, Macaulay Ehonor, said the other LGAs have received the sum of N1,777,639,808.24 from the federal allocation for the month of November 2016, out of which the total mandatory deduction came up to the sum of N1,181,401,139.16. He said the bulk of the mandatory expenditure went into the payment of teachers’ salaries while three local governments received negative allocation and would have to look elsewhere for funds to meet their financial obligations. According to him, “The bulk of this mandatory expenditure went in forteachers’ salaries, and in this month’s distribution, three local governments received negative allocation. That is to say, what accrued to these local governments cannot fully pay their teachers’ salaries. “In other words, they are supposed to go out looking for money to augment, and these local governments are Oredo, Orhionmwon and Uhunmwode local governments. These received negative allocation after the deduction from the mandatory expenditure.” Ehonor continued, “Arising from this development, His Excellency has promised that the State will intervene to ensure that these local governments are able to meet some commitments to the staff of the local governments this month. The government has also promised to assist the local governments to carry out an assessment of our economic potentials of each and every local government. That is, to establish our base revenues and also our base monthly expenditure, to see how viable each and every local government would be in the months to come. “The local governments are also to carry out physical verification of teachers in the respective primary

schools as soon as schools resume. The National Union of Teachers, (NUT) has also been sensitised by the state government towards this assignment. This administration will abhor absenteeism of its staff, both teachers and non-teaching staff.” He said: “We were also advised to ensure that our marriage registries are functional, and records from these marriage registries are updated on a monthly basis so as to be able to discharge effectively our constitutional responsibilities as regards marriages, births and deaths. The 18 local government councils in Edo State have received the sum of N1,777,639,808.24 from the federal allocation for the month of November, 2016 and absolved the state government of any interference with revenue accruing to local government areas. “We have just held the joint allocation committee meeting of local governments in Edo State presided over by His Excellency, the Executive Governor of Edo State, Godwin Nogheghase Obaseki. “The total allocation received by local governments in Edo State for the month of November, shared now in the month of December is N1,777,639,808.24 (One Billion, Seven Hundred and Seventy Seven Million, Six Hundred and Thirty Nine Thousand, Eight Hundred and Eight Naira, Twenty Four Kobo). “Of this amount, the total mandatory expenditure came up toN1,181,401,139.16,” Ehonor stressed. He added: “The local governments are also to carry out physical verification of teachers in the respective primary schools as soon as schools resume. The National Union of Teachers, (NUT) has also beensensitised by the State Government towards this assignment. Thisadministration will abhor absenteeism of its staff, both teachers and non-teaching staff. “These were the highpoints of this month’s meeting, and we were all satisfied with the outcome of the meeting. It is also clear from this that thestate government in no way interferes with the revenue accruing to local governments. Thank you.” The Deputy Governor, Mr. Philip Shaibu, the Secretary to the State Government, Mr. Osarodion Ogie and the Head of Service, Mrs. Gladys Idahor were also present at the joint allocation committee meeting of local government councils.

Procurement Act which he sponsored was to address issues of abandoned projects among others. “This is because, today Nigeria has more than N5 trillion worth of abandoned projects and if you trace the history of these projects, you will find out that they are predominantly caused by contractors’ neglect. “We believe that by coming-up with an additional legislation to provide for additional fines and damages against contractors, issues of contracts abandonment will become history in Nigeria,” he said.

According to him, he has so far sponsored ten bills, six motions and presented two petitions with a view to effecting positive change and improving the lives of citizens. The bills included the one seeking to amend the National Universities Commission (NUC) Act, to give the commission the power to regulate the conditions of service and procedure for engagement of academic staff. “This is a very significant bill, because it will amend the minimum standard for education and establishment of an institution, so as to provide a guideline for regulating

condition of service. “It will also regulate procedures for engagement of visiting and part-time lecturers in our tertiary institutions. “If you know what is happening in Nigerian universities today, you will agree with me that there is no better time for a bill to regulate the activities of universities than now,” he said. The lawmaker lamented that some senior lecturers of universities, under the disguise of visiting lecturers were taking employment with up to six universities at a time. “On the average, if a lecturer tries, he or she will stay, may

be for a day every two weeks in their university of primary assignment. “The rest of the 13 days of these two weeks will be spent going round the country to other universities lecturing on a part-time basis at the expense of their original employer. “The implication is that the university that engages them and pays their salaries and allowances is losing a lot as there is no commitment to the job.” According to him, such acts negatively affects research and project supervision, as well as the quality of university education in Nigeria, hence the need for the regulation.

ENCOURAGING SCIENCE EDUCATION

L-R: Director PZCussons Consumer, Christos Gouras, Executive Director, Corporate Affairs, Yomi Ifaturoti, Representative of Permanent Secretary, Lagos State Ministry of Education, Head, Competition Unit, Science and Technology Department, Olubukola Obafemi and the Chairman, Advisory Board, PZCussons Chemistry Challenge, Prof. Oladele Osibanjo, at the stakeholders’ parley for 2016/2017 PZCussons chemistry challenge in Lagos....yesterday

Fayose’s Promotion of 15,000 Workers a Grand Deception, Says APC Victor Ogunje in Ado Ekiti The All Progressives Congress (APC) in Ekiti State has debunked claims by Governor Ayodele Fayose that he has promoted 15,000 workers in the state civil service as part of the end of the year package for civil servants. It also debunked the claim by the governor that workers were paid two months salaries, Christmas bonus and other allowances. In the last few days, news was all over the media space that Fayose had paid two months salaries and Christmas bonus, including promotion of 15,000 workers and implementation of promotion arrears approved few years back as part of welfare scheme for workers. But the APC dismissed the reports as a ruse, saying that no single worker was promoted “as at the time of writing this press release”. In a statement by the Publicity Secretary, Taiwo Olatunbosun, the party said it had been discovered that the governor was “just trying to be himself as an unconscionable liar” in his promotion and two

months salary payment claims. He explained: “As at the time of writing this press release, no single worker has received any letter of promotion. “At best, what the governor has done is a promise of promotion to the Labour leaders he assembled at the dilapidated Ikogosi Resort where he begged them to help him mobilise workers to vote for his candidate in the 2018 governorship election with the promise of mass promotion for workers. “The promise followed similar other one during his governorship campaigns when he asked Ekiti youths to submit their credentials to his campaign office for immediate mass employment if they voted for him. “But after winning the election, the credentials of the youth found their way to groundnut and roasted plantain sellers, and up till now, none of them has been employed.” Olatunbosun added that investigations from Ekiti State Civil Service indicated that no single promotion letter had been

issued from the office elevating any worker. He also debunked reports that Ekiti workers were paid two months salaries, explaining that what the governor did was his usual alleged fraudulent practice to confuse and deceive the people. He explained: “Fayose never paid two months salaries. What he did was that he paid just one salary for two different months. “For instance, he paid December salary to a set of workers while he paid July salary to another set, making it just one month salary to all the workers so far paid, but the governor has been fraudulently claiming that he had paid two months salaries.” Olatunbosun added that what Fayose did was to gamble with the workers again to exploit them and deceive the public for favour in the next governorship election, noting that the governor’s anti-worker policy did not support his present pro-worker stance. He explained: “On assumption of office, Fayose cancelled all the promotions approved

by former Governor Kayode Fayemi, while he also reversed the appointments of nine permanent secretaries made by Fayemi, some of whom had since retired in frustration. “Morale is at its lowest in the top echelon of the civil service, as permanent secretaries are no longer appointed on merit but through balloting system that is fraught with fraud whereby the least qualified candidates, who are the governor’s cronies, may be appointed while against service rule, Fayose has stopped Executive Secretaries from being appointed permanent secretaries. “Besides, we have witnessed mass sack of workers while salaries and running grants of some categories of workers have been reduced in several government’s institutions, including those in the Ekiti State University, while the governor increased his own monthly security vote to N250m. “Labour union leaders are regularly victimised and harassed, even as morale is at present at the lowest among the work force while Fayose has also cancelled all local and overseas capacity development training programmes.”

THURSDAY, DECEMBER 29, 2016 • T H I S D AY

NEWSXTRA

Buhari, Ibori, APC Mourn Francis Okpozo Tobi Soniyi and Damilola Oyedele in Abuja President Muhammadu Buhari, former Delta State Governor, Chief James Onanefe Ibori and the All Progressives Congress (APC) have expressed heartfelt condolences to the government and people of Delta State on the death of Chief Francis Okpozo, a Second Republic senator and member of the Board of Trustees (BoT) of the party. Okpozo died in Benin City on Monday after a brief illness. He was aged 81. The president, in a statement

by his Special Adviser on Media and Publicity, Mr. Femi Adesina, commiserated with the family and friends of the late distinguished senator. The president said the senator’s commitment to social justice in the Niger Delta, during his long history of service to the people, endeared him to many. “As a stalwart of the APC in the South-south, President Buhari believes that the party greatly benefited from the octogenarian’s charismatic leadership and wealth of experience as a politician,” the statement added. The president expressed

the hopes that those mourning Senator Okpozo will carry forward his legacy of unwavering dedication to the unity of Nigeria, even as the nation would fondly remember his contributions to peace, development and justice in the Niger Delta. Buhari prayed that God Almighty would comfort the family of the late senator and grant the soul of the departed eternal rest. On his part, Ibori described the death of Okpozo as a devastating blow to Delta State, the South-south, and the entire country. In a press statement signed by Tony Eluemunor, Ibori said Okpozo was an indefatigable

fighter for the betterment of the Niger Delta. “We can all recall that during the last national conference, Okpozo’s voice was strident in calling for increased derivation per centage for the oil producing states, even as he warned of the consequences of the injuries that would be done to Nigeria if fiscal federalism was not made a reality in the country.” Ibori said the leadership qualities in Okpozo came to the fore when he emerged a Deputy-Speaker of the defunct Bendel State House of Assembly. “Since then, he always remained a voice of reason whenever serious national issues was being discussed.” Ibori added that Okpozo was

a tireless peacemaker who toiled night and day to ensure that peace reigned in Delta State, and prayed God to grant Okpozo’s immediate family the strength to bear the irreparable loss, pointing out that his achievements in diverse areas as of national life will never be forgotten. Also, the APC mourned the death of Okpozo. In a condolence message by the APC National Chairman, Chief John Odigie-Oyegun, the party expressed condolences to the Okpozo’s family, commiserating with the people and government of Delta State. “Until his death, Okpozo was an elder statesman, nationalist and progressive critic whose commentaries positively

influenced and shaped discourse and developments at the national level as well as in the South-south region and in his home state. “The late Okpozo has left us at a critical time when he was needed to contribute to nation building, the Change Agenda of the APC as well as the growth of the party in the South-south region and the state. We however take solace knowing that the late Senator lived a fulfilled and impactful life during his time on earth. I pray that the Almighty God grants his immediate family the fortitude to bear the loss. May his soul rest in peace,” h e a d d e d .

Tambuwal Launches Health Scheme with N100m Mohammed Aminu in Sokoto Sokoto State Governor, Alhaji Aminu Tambuwal, yesterday launched the Community Contributory Health Scheme with a seed fund of N100 million in the state. Speaking at the launch of the scheme in Sokoto, Tambuwal described the take off of the scheme as one of the most important interventions of his administration in the healthcare sector. He said government had set aside the seed fund for the commencement of the scheme which will ensure the implementation of the universal health coverage through contributions from various stakeholders. According to him, the scheme is an important policy whose impact will positively be felt on the lives of the people. “It will also protect families from the financial hardship of huge medical bills and limit the inflationary rise in the cost of healthcare services in all parts of the state. “Apart from ensuring

equitable distribution of healthcare costs across different income groups, this scheme will improve and harness private sector participation in the provision of healthcare services in Sokoto,” the Governor stated. In a remark , Sultan of Sokoto, Muhammad Sa’ad Abubakar, dispelled the notion that Islam is against contributory health scheme, saying the religion encourages members of the society to help one another at all times. The state commissioner of health, Dr. Kakale Balarabe Shuni, said the new policy would ensure that all residents of Sokoto have access to effective, quality and affordable healthcare services. “It will facilitate training of human resource development and ensure availability of alternative source of funding to the health sector for improved service,” he said. Also speaking, the Executive Secretary of the National Health Insurance Scheme (NHIS), Prof. Usman Yusuff said the benefit of this policy will be felt for generations to come.

Health Workers at National Orthopaedic Hospital Kano Embark on Indefinite Strike Ibrahim Shuaibu in Kano Health workers at the National Orthopaedic Hospital, Dala in Kano, yesterday embarked on indefinite strike. The action was taken to protest against the nonpayment of their three months salaries and was sequel to a five-day warning strike that was embarked upon approximately two weeks ago. An official of the workers told journalists under anonymity that “The hospital’s management is yet to meet our demands but rather has seen fit to resort to the blatant intimidation of staff of the hospital. “We call on the federal

government and relevant bodies to speed up actions to pay the three months arrears as this has brought untold hardship on members of staff. “This indefinite strike embarked upon will be suspended once we get paid our rightful dues for the three months arrears.” THISDAY observed that patients at the hospital were scared over the action taken by the health workers by embarking indefinite strike. It was also learnt that the strike involved only healthcare workers while efforts are underway to resolve the problem. All efforts to contact the hospital management proved abortive.

PREACHING RELIGIOUS TOLERANCE

Lagos State Governor, Mr. Akinwunmi Ambode (second left), Senior Lecturer, Department of Islamic and Arabic Studies, University of Ibadan, Prof. AbdulHafiz Oladosu; Speaker, Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa; his wife, Fausat; and Shaykh AlImam Daud Alfa nla Eleha Abdul Mojeed during the 10th annual Hijrah lecture at the Lagos Assembly Complex, Alausa, Ikeja....yesterday

Obaseki Inaugurates Elderly Centre Built by Ifueko Omoigui-Okauru Adibe Emenyonu in Benin City Edo State governor, Mr. Godwin Obaseki, yesterday called for collective support for the elderly, the weak, the disadvantaged in society, adding that it was high time society redefined its culture and value system as a way of showing they are caring people. Obaseki made the call while inaugurating the ultra-modern Elderly Care Centre built by the former chairman of Federal Inland Revenue Services (FIRS), Mrs. Ifueko Omoigui-Okauru, under the auspices of Dagomo Foundation Limited. He said: “There are many of us in this audience who have the reach; who have the relationships to spread this message, to spread the word that we must redefine ourselves as a caring society.’’ While noting that as a people and as a society that care, not only for those who are successful, he added: “if we do not begin today to invest for the future, invest for our old age, we will all be losers for it.” According to him, “What we are witnessing today is excellently

what defines the hallmark of a civilized society. Where beyond looking at ourselves, our comfort and our accomplishments, we sit back to reflect on the elderly, the weak, the disadvantaged and the dead’’. Quoting Gabriel Garcia Marquez, who said ``people stop growing old when they stop pursuing their dreams”, he Edo state governor stated, “We must continue to pursue our dreams beyond when we are here.” Obaseki, who extolled the beautiful and laudable gesture, pledged to partner Dagomo Foundation Limited on how to work out clear policies to support the weak in the society. “For us and the government of Edo state, Dagomo Foundation is one foundation we will partner with. We will partner with you because we need to raise very clear policies on how to deal with the issues of the elderly and the disadvantaged in the society. We must have very well thought-out policies on how we deal particularly with the elderly because we hopefully will all grow

old someday”, the governor said. Furthermore, Obaseki disclosed the willingness of his administration to partner the foundation on the creation of a befitting resting place for the dead. “We will also partner with you to deal with the disgraceful issue of our cemeteries and how we take care of our dead. “In other parts of the world, cemeteries are laid out; they are so environmentally friendly to the extent that sometimes you say, I want to be laid there when I am no more. But I am not sure there are people in this city, in this state who want to be buried in our cemeteries, and we have converted our homes to cemeteries at the risk of our health. “So, it’s one area we would like to work with the foundation, particularly in the three local government areas of Egor, Oredo and Ikpoba Okha that easily have a population that has exceeded a million people. We need to decide how to plan out resting places,” he said. Earlier, the Executive Director, Dagomo Foundation Limited,

Mrs. Ifueko Omoigui-Okauru, thanked the Governor for honoring their invitation to attend the inauguration of the building dedicated to their mother. She said, “Dagomo is a family based non-governmental organisation established in 2008 in honor of our parents – Daniel and Grace Omoigui from where the name is derived but it became operational in 2013.” Mrs. Omoigui-Okauru spoke on the focus, vision and mission of the foundation saying, “Our vision is to be a bridge in society, connecting the disadvantaged, unheard and unrecognised with opportunities for a more fulfilling life. “In this regard, our plan is to nurture a better and more caring environment for the elderly and the dead in the Nigerian society, starting with the Edo community, Benin City, and sow the seeds for an elderly care services industry in Nigeria. “We won’t plan to do these ourselves, but to work with partners, and be a catalyst for change,” she said.

THURSDAY, DECEMBER 29, 2016 • T H I S D AY

NEWSXTRA

2019: Ebonyi PDP Adopts Umahi as Sole Candidate

The Ebonyi State chapter of the Peoples Democratic Party (PDP) has adopted Governor David Umahi as its sole candidate for the 2019 polls. The state PDP chairman, Chief Onyekachi Nwebonyi, announced

this on Tuesday when he led the working committee of the party to pay Christmas homage to the governor in Uburu, Ohaozara Local Government Area Nwebonyi, who said they were in Uburu to felicitate with

Dogs Disappear from Streets as Ekiti Residents Turn to Dog Meat Dogs have disappeared from the streets in Ekiti State following rise in the consumption of dog meat by residents, a check by the News Agency of Nigeria (NAN) has shown. It was gathered that more people have increasingly turned to dog meat for their nutrition in spite of the taboo hitherto associated with the consumption of dog meat in the community. In Ado-Ekiti, Ikere-Ekiti, Ise-Ekiti, Emure- Ekiti, Ikole-Ekiti and Otun Ekiti new dog slaughter slabs have sprung up as the residents devour the meat in homes, restaurants and beer parlours. A resident said no fewer than 20 of such slaughter slabs exist in Ado Ekiti alone. “A good number of beer parlours and relaxation centres now make

pepper soup and suya from dog meat. “Because of the high rate of consumption of dog meat, it is now difficult to see dogs on the street and their cost have risen astronomically,” the resident, who craved anonymity said. NAN reported that three-monthsold dogs previously sold for as low as N500, now attract up to N3,000, while adult go for between N6,000 and N15,000 depending on the size. Mr. Debo Olusola, who trades in dog meat, said he makes an average of N10,000 daily from sale of dog meat suya. A veterinary doctor, Kunle Adeyemi warned against excessive consumption of the meat, saying it was “risky and injurious to health” due to rabies content in dog flesh and blood.

and thank the governor for his achievements within a short period of time, pledged their total support and loyalty to Umahi whom, he said, was the best in the country. “On behalf of the state executive of our great party, we hereby adopt you as our sole candidate for governorship position,come 2019,” the party chairman said in a statement yesterday by the governor’s spokesman, Emma Anya. Nwebonyi thanked Umahi for

increasing the monthly stipend of party executives and those at the ward level. In his response, the governor thanked the PDP working committee but charged them to work assiduously by holding party meetings even in the local and ward levels to enlighten people on the activities of government. Informing the delegation that his government would partner the PDP in 2017 in the area of agriculture, he advised them and

other stalwarts of the party to ensure they had a farm. He said: “If you are in leadership at any level of our party, you must have to engage in rice production. We are looking at maize also, our yam is the biggest in the whole country,if not in the whole of Africa.One who doesn’t have farm land is not a member of PDP.” Umahi added that his administration would by January empower more than 4,000 people

as over N1bn had been set aside to execute the programme. Earlier, the National Vice-Chairman of the PDP (South-east), Deacon Austin Umahi, charged the state executive of the PDP to go down to their villages and wards to evangelise the good works of the governor. He said those interested in running for the governorship poll in the 2019 must realise that there is no vacancy in Ebonyi State.

Ugwuanyi’s Achievements Quite Outstanding, Says Catholic Bishop

The Catholic Bishop of Nsukka Diocese, Bishop Godfrey Onah, has noted that Governor Ifeanyi Ugwuanyi’s achievements in office in the face of daunting economic challenges in the country have been outstanding and need to be well celebrated. Bishop Onah said Ugwuanyi believes in good governance and has demonstrated his commitment to the well-being of the people of the state through massive infrastructural development, regular payment of workers’ salaries and restoration of peace in the state. The Bishop, who spoke at a civic reception organised by the people of Imilike

community in Udenu Local Government Area of the state in recognition of Ugwuanyi’s remarkable achievements in office, pointed out that the governor had sacrificed a lot in providing good governance across the state and should be appreciated. Onah, who is from Imilike community, explained that the reception was organized to appreciate the governor’s good works in the area in particular and the state in general and also encourage him to render more selfless service to humanity. He urged the governor to continue to govern the state with the fear of God and also

be guided by the rule of law, assuring him of the support and prayers of the people of the state to succeed. The Bishop stressed that if the governor continues with his impressive track record, the sky will be his limit. “I m impressed that Ugwuanyi leads with the fear of God, love, faith and is always ready to make sacrifices for the good of the State. It is unfortunate that his numerous achievements are not well celebrated. What people think is what was done wrong, but nobody talks about the sacrifices and pains our leaders pass through to provide the needs of the people. “Our children who have not seen street light before can now watch

with amazement, the dazzling of the roads at Night, this is the handiwork of our beloved son and brother, Ugwuanyi,” the bishop said. In his remark, Ugwuanyi thanked the people of the community for the honour and their support to his administration. He also thanked the bishop for his kind words of advice, prayers and guidance. The governor used the opportunity to preach for peace, love and togetherness, reassuring the people of the state of his administration’s commitment to equitable development of the entire state in line with his campaign promises.

THURSDAY, DECEMBER 29, 2016 • T H I S D AY

CRIME&PUNISHMENT

Renounce Secret Groups, Get Automatic Jobs, Ambode Tells Cultists

Gboyega Akinsanmi Lagos State Governor, Mr. Akinwunmi Ambode, yesterday offered amnesty to all cultists who are willing to renounce membership of their secret societies or cultist groups. He, also, asked all parents and guardians to encourage their children and wards to shun all forms of crime and violence, assuring that the state government would come up with policies to give youths greater opportunities. Ambode disclosed the plan yesterday in Ikorodu, where he addressed thousands youths during the on-going One Lagos Fiesta, noting that the state government “has perfected plans to rehabilitate all youths involved in one form of criminality or the other in 2017.” The fiesta, which started on Saturday in five administrative divisions of the state, was attended by members of the State Executive Council, political leaders and traditional rulers among others. He explained the decision to grant cultists amnesty if they renounce their membership of illegal groups,” saying it was designed to make them live normal lives and contribute meaningfully to the society. He, therefore, lamented the rising trend of cultism and other crimes across the state,

especially in Ikorodu, noting that that the state government had capacity to fight or deal with such crimes. However, he said, the state government offers all cultists who volunteer to quit secret societies to encourage those willing to turn away from their old ways and embrace new lives. He acknowledged that the state government has recently been having challenges with cultism and kidnapping in Ikorodu area. But tonight, we are going to strike a deal. We are going to say no to cultism. Then, we are going to encourage all youths to renounce cultism. “We are offering amnesty to any youth who is a cult member and is ready to renounce cultism. We are devoting 2017 to rehabilitate all those who have been doing bad things. We will provide money. We will also provide jobs. “We encourage all youths to shun cultism and violence. Wherever you find somebody that is not doing anything well, you can either tell the monarch here or come to us. We will give you protection. We offer you money and then we are going to offer you automatic jobs. “So, we all agree to say no to domestic violence, kidnapping, rape and no to cultism. Once you sign on,

Man Cries for Help, Says Cousin Using His Bank Account to Commit Fraud A resident of Abuja, Chukwu Kingsley has revealed how his bank account number, which he innocently gave to a cousin was used to defraud unsuspecting members of the public who are now after him, as the fraudster who committed the fraud can not be found. He warned Nigerians to be wary who they give their account numbers to as he has been a victim of such. In a letter of complaint to the Nigeria Police Force Headquarters, which was made available to the News Agency of Nigeria (NAN), Kingsley said his cousin, one Chidi Fred had approached him and claimed his was having a problem with Bank Verification Number (BVN) He said unknown to him, Chidi had defrauded some individuals and asked that the money be paid into his account. He said: “One Chidi Fred who happens to be my cousin came to me and sought my assistance “He told me he stays in Kubwa though never visited his home as we knew each other from the village. “Chidi told me he is into supply of towels, bed sheets to hotels and that someone wanted to send money for supply to his account but he was having problem with his

bank Bank Verification Number (BVN). “He pleaded I assist him with my account number, which I did, with my GTBank 0125562530.” Giving further narration of what transpired, Kingsley said, “On September 23, 2016, I received an alert of N200, 000 from one Ali M. Mohammed. “Subsequently, I received the sum of N1 million on October, 4, from Zee Seed Nigeria Ltd and another N245,000 from the same Zee Seed Nig Ltd on October, 7. “All this money, I promptly withdrew and handed over to Chidi Fred. In one instance, I gave him the money in the presence of a witness. While in another occasion, we went to the bank together.” Kingsley said he was never part of the business discussion but was surprised on November 8, 2016 when he got a call from one Mr Emeka who said he was calling from Taraba threatening to deal with me if he doesn’t return his money. He said, “I’m a victim of this fraud and I seek to draw the attention of the security operatives to help bring this Chidi to justice and stop him from further defrauding other innocent Nigerians

we would offer you anything that you want,” the governor told the youths. He, therefore, emphasised the importance of education and hard work, thereby encouraging the youths “to strive very hard to be

educated, and thereafter pursue their dreams.” He referred to an entertainer, Mr. Folarin Falana (a.k.a Falz), noting that he “is a lawyer. It is highly essential for the young ones to be educated before thinking of other

things in life. What I brought to youtonight is to let you know that education is very important. “You can be who you want to be. If I am not a governor, I will be an accountant. If I am not an accountant, maybe I will

have been an entertainer because I love music. I love arts, I love entertainment. That is why I want to encourage all of you, firstly, we must all be educated and then you can now use you creative talents to be who you want to be.”

I PLEDGE TO SERVE

A cross section of the elected chairmen from the 17 local government areas in Abia State taking their oath of office and allegiance during their swearing-in at the Michael Okpara Auditorium in Umuahia...yesterday

NAFDAC Secured Convictions Blind Candidates Collude of Eight Drug Offenders in 11 to Cheat at Examinations, Says WAEC Months, Says DG The West African major external examination,’’

Mohammed Aminu in Sokoto

The Director General urged Nigerians to key into the The National Agency for Food change agenda of President and Drug Administration and Muhammadu Buhari and Control (NAFDAC), yesterday endeavour to always do the said it secured eight convictions right things. of drug offenders in the last She lamented 11 months. that drug abuse has become The Acting Director- a common and very serious General of NAFDAC, Mrs. public health issue, especially Yetunde Oni, disclosed this among the youth. at the commencement of the In a remark, Governor aency’s national education and Aminu Tambuwal, who awareness campaign in Sokoto. spoke through the Secretary She said 52 other drugs to the State Government, suspects were being prosecuted Prof. Bashir Garba, said the in various courts across state government had set up Nigeria. inter-agency taskforce to curb According to her, the Federal the menace of illicit drugs and Ministry of Justice was taking other unwholesome substances. the right steps to ensure the “Drugs abuse has now speedy prosecution of the regrettable extended even to suspects. matrimonial homes, with some Oni appealed for more couples being drug abusers. funds to make the NAFDAC ‘’The state government more effective and efficient, will support the agency and saying staff of the Agency were its sister agencies and is vibrant, robust and productive. determined to do everything “We need more funds humanly possible to counter to provide more vehicles, the menace,’’ Tambuwal said. equipment for our laboratories The Sultan of Sokoto, and other needed logistics. Alhaji Sa’ad Abubakar III, “Our drug manufacturers represented by the District should be encouraged to Head of Hamma’ali, Alhaji produce quality products, to Muhammad Abubakar, reduce importation. commended the agency for “Nigeria should be a organising the event and producing nation rather than pledged the support of the being a heavily consuming Sultanate Council to tackle nation,” she said. the menace

Examinations Council (WAEC) has said blind candidates also cheat during examinations. It said the blind candidates cheat by colluding. The Head of Test Administration of WAEC in Nigeria, Mrs. Frances Iweha-Onukwu, made the revelation to the News Agency of Nigeria (NAN) in Lagos yesterday. Iweha-Onukwu said the reason could be that the candidates were usually not well equipped individually for the examinations. She added that this had been responsible for what she described as ‘not too wonderful performance’ among the blinds. “We have discovered that there is usually high incidence of collusion among blind candidates during examinations. “That is why their performance has not really been anything wonderful. “Our society is such that there have not been adequate and conscious efforts to take care of the challenged. “There have not been enough trained personnel to guide blind candidates before being exposed to

she said. She lamented a situation where just one teacher who studied Special Education in higher institution is employed to cater for the needs of physically challenged persons of various dimensions. She said the situation must be reviewed. “I cannot explain how one teacher, who studied special education can be given the singular task of meeting the academic needs of the deaf, dumb, the blind and all others. “Meanwhile, there are candidates who need personalised attention on one-on-one basis. “If we intend to give the best and all-inclusive education, Federal Government must employ more trained teachers in special education to take care of the different defects among the physically challenged students. “There must also be consciousness in policy formulation that will take care of these persons. “This is because there is ability in disability. These persons can do better if adequate care is given,’’ Iweha-Onukwu added.

THURSDAY DECEMBER 29, 2016 T H I S D AY

THURSDAY DECEMBER 29, 2015 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

John Kerry Warns Israel over Peace Deal with Palestinians

US Secretary of State John Kerry has said the prospect of an Israeli-Palestinian peace deal based on a two-state solution is in grave jeopardy. He insisted UN condemnation of illegal Jewish settlements on occupied land was in line with American values. Israel’s PM said Mr Kerry’s speech was“obsessively focused” on settlements. Earlier, US President-elect Donald Trump tweeted in support of Israel, saying he would not allow it to be treated with “disdain and disrespect”. He urged Israel to“stay strong” until he assumed office next month. On Friday, the US chose not to veto a UN Security Council resolution calling for an end to Israeli settlement construction, leading to an angry response from Israel. The issue of Jewish settlements is one of the most contentious between Israel and the Palestinians, who see them as an obstacle to peace and the creation of a viable Palestinian

state. More than 500,000 Jews live in about 140 settlements built since Israel’s 1967 occupation of the West Bank and East Jerusalem. The settlements are considered illegal under international law, though Israel disputes this. What is the two-state solution? A “two-state solution” to the decades-old conflict between Israelis and Palestinians is the declared goal of their leaders and many international diplomats and politicians. It is the shorthand for a final settlement that would see the creation of an independent state of Palestine on pre-1967 ceasefire lines in the West Bank, Gaza Strip and East Jerusalem, living peacefully alongside Israel. The United Nations, the Arab League, the European Union, Russia and the United States routinely restate their commitment to the concept. Mr Kerry said:“The two-state solution is the only way to achieve a just and lasting peace between Israelis and Palestinians.

It is the only way to ensure Israel’s future as a Jewish and democratic state. That future is now in jeopardy. “Friends need to tell each other the hard truths, and friendships require mutual respect. The United States did in fact vote in accordance with our values, just as previous US administrations have done at the Security Council before us.” He added:“The Israeli prime minister publicly supports a two-state solution, but his current coalition is the most right-wing in Israeli history with an agenda driven by the most extreme elements. “The result is that policies of this government, which the

prime minister himself just described as more committed to settlements than any Israel’s history, are leading in the opposite direction. They are leading towards one state.” In his reply, the office of Prime Minister Benjamin Netanyahu said the US secretary of state’s speech was “skewed against Israel” and “barely touched upon the root of the conflict- Palestinian opposition to a Jewish state in any boundaries”. In two tweets issued on Wednesday morning New York time, Mr Trump said: “We cannot continue to let Israel be treated with such total disdain and disrespect.

“They used to have a great friend in the US, but... not anymore. The beginning of the end was the horrible Iran deal, and now this (UN)! Stay strong Israel, January 20th is fast approaching!” Mr Netanyahu replied on Twitter: “President-elect Trump, thank you for your warm friendship and your clear-cut support for Israel!” Critics have urged the president-elect to use more conventional channels to communicate on international matters. The UN resolution passed last Friday stated that the establishment of settlements “has no legal validity and

constitutes a flagrant violation under international law and a major obstacle to the achievement of the two-state solution and a just, lasting and comprehensive peace”. The US decision to abstain infuriated Mr Netanyahu, who has taken diplomatic reprisals against the countries that voted in favour of the resolution. Meanwhile, an Israeli committee has postponed a vote to authorise construction of almost 500 new homes in Jewish settlements in occupied East Jerusalem. The move apparently follows a request from Mr Netanyahu’s office.

Russia Plane Crash: Flight Recorder ‘Reveals Faulty Wing Flaps to Blame’ The main flight recorder from the Russian jet that crashed into the Black Sea on Sunday has revealed that faulty flaps were to blame, Russian media say. The flaps, panels on the wings that help lift an aircraft, were not moving together, a source close to the probe told the private Interfax news agency. The pro-Kremlin Life news website says this led the pilots to lose control as the plane was at a “critical angle”. It also quoted the crew’s last words, including: “The flaps, hell... !” The ageing Tu-154 airliner came down off the Russian coast with the loss of all 92 passengers and crew. On board were 64 members of the famed Alexandrov military music ensemble, as well as one of Russia’s best-known humanitarian figures, Yelizaveta Glinka. The plane was heading to Russia’s air force base in Syria where the choir was due to perform at a New Year’s concert. The latest findings allegedly come from a cockpit conversation stored on the flight’s main “black box”data recorder, which was found underwater about a mile from the shore on Tuesday. The military airliner was commanded by experienced pilot Maj Roman Volkov and his co-pilot was Capt Alexander Rovensky, who had 10 years of aviation service. An earlier audio recording, played on Russian media, said to be of the final conversation between air traffic controllers and the plane’s crew, revealed no sign of difficulties. But Life, a new site which

is close to the Russian security agencies, issued a transcript of the cockpit recording taken from the“black box”, indicating the two pilots were taken by surprise. The plane crashed soon after take-off from an airport near the city of Sochi, where it had landed for refuelling. It disappeared from radar two minutes after taking off from Adler airport at 05:23 (02:23 GMT) on Sunday. A second flight recorder has been found in a good condition and was raised from the seabed on Wednesday, the defence ministry said. According to the authorities, so far 15 bodies have been recovered from the crash site. The Tupolev airliner involved in the crash was an old model no longer flown by airlines in Russia but still used by the military. It was 33 years old. The investigators have so far ruled out terrorism as a possibility, instead concentrating on human error, a technical fault or a combination of factors as being responsible. Pilots’ last words: •“Speed 300 (inaudible).” •“(Inaudible).” •“I’ve pulled in the landing gear, commander.” •“(Inaudible).” •“Oh bloody hell!” Piercing alarm sounds •“The flaps, hell, what a…!” •“The altimeter [altitude meter]!” •“We’re in… (inaudible).” Alarm sounds about dangerous proximity to the ground •“(Inaudible).” •“Commander we’re falling!”

US President, Barack Obama and Japanese President, Shinzo Abe during his State visit to US… yesterday

Obama, Japan’s Abe Decry ‘Horrors of War’ At Pearl Harbour The leaders of Japan and the United States sought to remind the world that even the bitterest enemies can become allies, during a historic pilgrimage to the hallowed waters of Pearl Harbour. Prime Minister Shinzo Abe did not apologise, but conceded Japan “must never repeat the horrors of war again.” Seventy-five years after Japan’s surprise attack, Abe and President Barack Obama peered down Tuesday at the rusting wreckage

of the USS Arizona, clearly visible in the tranquil, teal water. In a show of respect for the war dead, Obama and Abe dropped purple petals into the water and stood in silence. More than 1,000 U.S. war dead remain entombed in the submerged ship, which Japan struck as part of the devastating attack that killed more than 2,300 Americans and sent America marching into World War II. “As the prime minister of Japan, I offer my sincere and

everlasting condolences to the souls of those who lost their lives here, as well as to the spirits of all the brave men and women whose lives were taken by a war that commenced in this very place,”Abe said later at nearby Joint Base Pearl Harbour-Hickam. That was the closest Abe would get to an apology for the attack. And it was enough for Obama, who also declined to apologise seven months ago when he became America’s first sitting president to visit Hiroshima,

where the U.S. dropped an atomic bomb in a bid to end the war. Obama and Abe started Tuesday’s activities here with a formal meeting at another nearby military base, in what the White House said was probably Obama’s last with a foreign leader before leaving office in January. It was a bookend of sorts for the president, who nearly eight years ago invited Abe’s predecessor to be the first leader he hosted at the White House.

Barack Obama Beats Donald Trump as Most Admired Man of 2016 For the ninth year in a row, respondents to a Gallup poll ranked Barack Obama as the most admired man in America. Among women, Hillary Clinton was the most admired for the 15th year in a row, and the 21st time overall. Since 1993, her first year as First Lady, she has only lost out on the honor three times: in 1995

and 1996, to Mother Teresa, and in 2001, to then-First Lady Laura Bush. Current First Lady Michelle Obama came in second among women, while Donald Trump came in second among men (15% of respondents mentioned him, compared with the 22% who mentioned Obama and the 12% who

picked Clinton). Shortly after the news broke, some have pointed out, Trump tweeted critical remarks about President Obama. The most admired men and women in Gallup’s poll tend to be the sitting or incoming presidents and first ladies. Trump’s numbers are below then-President-elect Obama’s

32 percent support in 2008, but above then-President-elect George W. Bush’s 5% support in 2000. It’s also three times the support he received in 2015. Polling took place from Dec. 7 to 11 and included 1,028 adults with a margin of sampling error of ±4 percentage points.

thurSDAY, December 29, 2016 • T H I S D AY

THURSDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

EPL

Iheanacho Makes Premier League History Kelechi Iheanacho’s second half strike for Manchester City in the 3-0 win over Hull City in a Premier League game on December 26 was significant for many reasons. First, it gave City the needed momentum and ‘breathing space’ to finally overpower a plucky Hull City side that looked more than capable of coming back into the game. More poignantly, from a statistician’s perspective, it meant Iheanacho has now achieved what no one has ever done in Premier League history. According to SuperSport.com, that goal at the KCOM Stadium makes the Super Eagles attacker the player with the best goals-tominutes ratio of any other in the League’s history. Iheanacho is now the most prolific footballer in Premier League history. The former Golden Eaglet is now scoring a goal every 96 minutes in the Premier League the best goal ratio for any player with 10 or more in the league’s history. His accomplishment means he dwarfs stellar and storied names like Sergio Aguero, Thierry Henry, Cristiano Ronaldo, Alan Shearer and other greats who currently grace or have made their marks in the league in years gone by. In comparison to Iheanacho, fellow City striker Aguero has scored his 112 Premier League goals at a rate of one every 107

minutes and former Arsenal ace, Henry scored his 175 Premier League goals at a rate of one per 122 minutes. Iheanacho’s 12th goal for Man City came from just his 19th shot in 38 league appearances - and is all the more impressive considering the Nigerian only made his top-flight debut last season under Manuel Pellegrini. While some may be surprised to see Iheanacho at the top of such a prestigious list, the Manchester City manager, Pep Guardiola is not exactly gobsmacked as he noted in his press conference shortly after the win against Hull that the Nigerian youngster has an innate talent to notch up goals. “He has this quality to score goals,” Guardiola simply said of his Nigerian charge. Many say Iheanacho has not really been given a fair chance to stake a claim as City’s number one striker but he continues to underline his potential with the premium opportunities he gets. MOST PROLIFIC EPL GOALSCORERS Kelechi Iheanacho (12 goals; 96 minutes per goal) Sergio Aguero (112 goals; 107 minutes per goal) Thierry Henry (175 goals; 122 minutes per goal) Adam Le Fonfre (12 goals; 124 minutes per goal) Zlatan Ibrahimovic (12 goals; 128 minutes per goal)

GOTV BOXING NIGHT 10

Edo Boy Targets World Title, Hails Sponsors New African Boxing Union (ABU) welterweight champion, Stanley “Edo Boy” Eribo, has thanked the sponsors of the tournament and declared an ambition to win the Commonwealth and world titles in the very near future. The Benin-born boxer defeated Ghana’s Isaac Sowah to win the title at GOtv Boxing Night 10, which held on Monday at the National Stadium, Lagos. He was also voted the best boxer at the event, winning a cash prize of N1.5 million.

Speaking in Lagos on Wednesday, Edo Boy thanked the sponsors and organisers, saying the best way to repay their trust is to win the Commonwealth and world welterweight titles in the near future. “I’m grateful to the organisers and sponsors for making my dream come true and for all they are doing for Nigerian boxing. The way to show my appreciation is to win the Commonwealth and world titles. By the grace of God, I will win both very soon,” he said.

Nigerian-Japanese Baseball Star, Okoye, to Hold Clinic in Abuja The professional baseball outfielder for the Tohoku Golden Eagles in Japan, Louis Okoye is expected to make his maiden visit to Nigeria on Thursday before departing in early January, 2017. Astatement issued by the Japanese Embassy in Abuja said the Nigerian Baseball/Softball Federation will be holding an interactive session, including exhibition mini-match in honour of the visiting baseball star who is mixed Nigerian and

Japanese heritage. The event will hold at the Baseball field, National Stadium Complex in Abuja, starting at 4pm. It is expected that the Nigerian Baseball/Softball team players will also benefit from the knowledge of the professional player. The 19-year-old Okoye started playing baseball at the age of six and is considered for his athletics built and ability to change the game with his speed as well.

Iheanacho

NFF Debunks Shortchanged of S’Eagles Report Femi Solaja The Nigeria Football Federation has denied a report that it shortchanged players of the Super Eagles with regards to payment of their win bonus for the 2018 FIFA World Cup qualifying match against Algeria in Uyo in November 2016. Eagles’ Team Administrator Dayo Enebi Achor confirmed yesterday that contrary to the report in the media, the federation paid all the players all that was due to them: “That report is a fabrication. The estimate we sent to the

Government was for the sum of N1million for each player for a win. Nobody has been shortchanged. “Sometimes in March this year, the NFF held a meeting with some technical crew members, team captain and vice captain, on behalf of the team, and told them to open bank accounts (in Nigeria) as the Federation was no longer disposed to paying cash. It was also at that meeting that the NFF told them they would no longer be paid in dollars for home matches, and that the win bonus for home match

was a flat rate of N1million. The meeting took place at the team’s hotel in Kaduna and I was present at the meeting. “It was based on this that the players were paid the sum of N500,000 each for the draw against Egypt in Kaduna (2017 Cup of Nations qualifier, March 2016) and the sum of N1million each for the win against Tanzania in Uyo (2017 Cup of Nations qualifier, September 2016). Their camp allowance has also been paid in naira (N50,000 per day) since March 2016.” Achor also confirmed that for away matches, the players are

entitled to the sum of $5,000 at the official rate obtaining at the time of match. “The NFF has not shortchanged the players. The match against Algeria was a home match. Whenever the win bonus for the match against Zambia in Ndola is being paid, it would be $5,000 per player at the official rate that obtained at the time the match was played.” The federation has been in the news for wrong reasons in th3 recent time in spite of success the country had achieved especially in the last three months.

Rivers United Back from Christmas Break Players and officials of Rivers United knuckled down to work on Monday following their resumption from the Christmas break. The team had a three-hour training session which kicked off at 8am at the Yakubu Gowon Stadium, Port Harcourt. Physical drills, ball work and basic tactical programmes dominated the session which was overseen by technical manager, Stanley Eguma.

It was the first time the team trained in Port Harcourt in over a month following a comprehensive five-phase pre-season programme that integrated training tours to Abuja, Kaduna, Enugu and several cities in Spain. Speaking after the session, Chief Coach of United, Willy Udube, explained that it was important to get the troops back in early after the Christmas celebrations. “2017 will be a very big year for the football club and it is

only proper that we commence preparations early for the new season. “It was also important to give the boys a rest during the Christmas period as it also enabled them to be with their family and friends. “Their batteries have now been recharged for the task ahead. “Our first match in the new Nigeria Professional Football League (NPFL) season is less than three weeks away while

our first game in the CAF Champions League is just weeks after that. “We had a very good pre-season but we cannot throw away all that good work by failing to maintain our momentum,” he told the club’s official website, www. riversunitedfc.com.ng. Rivers United will compete in the NPFL, the Federation Cup and the CAF Champions League in 2017.

Amuneke Conferred with Chieftaincy Title Ex-international Emmanuel Amuneke has been conferred with a chieftaincy title in Eziokele Community in Owerri West Local Government Area, Imo State. The honour was bestowed on him on Tuesday, December 27 as part of events celebrating the sixth anniversary of the community’s creation, as

well as the sixth anniversary of the coronation of His Royal Highness, Eze Osuji, Eze Udo 1 of Eziokele Community. Amuneke was conferred with the title of Aka Welitere Mba1 (the hand that promotes the community) by King. “Our community could not have been heard and known outside this area if not through

Amuneke,” said Eze Osuji. “Through his football career, Amuneke lifted the name of our community. He also ensured that other youths from this area followed suit and earned their living without resorting to vices.” All honoured were Amuneke’s father and Emeka Amajiriaku, founder of ASJ Academy which produced the likes of Chidiebere

Nwakali, Kelechi Nwakali and Chukwudi Agor. Aside from winning the 1994 African Player of the Year, having helped the country win the Africa Cup of Nations and participating in the 1994 FIFA World Cup, USA – the 46-yearold led the Golden Eaglets to win the 2015 FIFA U17 World Cup in Chile.

T H I S D AY • THURSDAY, DECEMBER 29, 2016

THURSDAYSPORTS

L-R John Mikel Obi; Nathaniel Clyne; a mother and her daughter during the visit

Sharing Love the Blues Way at Xmas Antonio Conte and the Chelsea squad surprised children and their families at the Chelsea and Westminster Hospital penultimate Wednesday afternoon. The players spread festive cheer with the visit, delivering presents for the kids, posing for pictures and signing autographs around the wards. Sadly, some of the children were in hospital over Christmas and so the Blues popped in following the morning’s training session at Stamford Bridge. The annual visit to the Chelsea and Westminster, just along the Fulham Road, is a significant one for the players. ‘Each year we come and it is important for us as players to do this and to see the kids,’ said Cesar Azpilicueta to Chelsea FC official website. ‘I am a parent myself and I know how special this time is. Christmas is normally a very happy time but for these kids and their families it is very difficult so it is nice for us to come here, give them presents and to spend time with them. It is also nice for us to be able to do this and to make people’s day nicer.’ One young admirer of the Spanish international was Hannah Pollock, who was delighted to meet the players and receive a selfie stick. ‘She has had some issues with her tummy and has go to start a diet of a milky drink for the next six weeks which will get her better,’

her mum Lucy explained. ‘She’s been in and out since November 6, but we will be home for Christmas which is very exciting. ‘It’s fantastic to see the players. It’s quite quiet here normally and she feels like she has missed the build-up to Christmas at school with the play, the games and the jumper day, so it’s lovely for the players to come in.’ David Luiz too had one special fan. James Middlehurst plays for the Team GB amputee football team. He was thrilled to meet his hero! From the Chelsea and Westminster Hospital, it was next stop the West Stand at the Bridge where there were plenty more smiles on faces at the Bridge Kids Christmas Party. There in one of the suites hundreds of junior members of the club plus guests of the Chelsea Foundation, who had been enjoying party food to the accompaniment of balloon modelling and music, were joined by the players for plenty of selfies and signed photos, with one giant selfie taken of everyone together. The undoubted highlight though was a quiz at the end between two teams consisting of two of the kids partnered by David Luiz and Victor Moses, with the final challenge for the youngsters an impression of Antonio Conte on the touchline. The manager himself judged the winner and given they were both hilariously good, he called

it a draw. Throughout the day, in the shadow of the West Stand, there was plenty of fun for all the family at a special Chelsea Christmas wonderland full of activities. As well as seeing live reindeer and penguins, children had the chance to take part in a series of challenges and games testing their aim, balance and speed. There were craft workshops and ice sculpture opportunities too, while some competitive table football match-ups, between young and old alike, occasionally took centre stage!

James Middlehurst (right) pulling the hair of his hero, David Luiz

Wiggin Announces His Retirement from Cycling Five-time Olympic champion Sir Bradley Wiggins has announced his retirement from cycling aged 36 years. The 2012 Tour de France winner said he had fulfilled a “childhood aspiration” of making a career out of the sport. “I’ve met my idols and ridden with and alongside the best for 20 years,” he said. “2016 is the end of the road for this chapter, onwards and upwards. Kids from Kilburn don’t win Olympic golds and the Tour de France! They do now.” Wiggins became Britain’s most decorated Olympian in August when he won the team pursuit gold on the track in Rio, his fifth gold and eighth Olympic

medal. He secured eight world titles on the road and track and set the world record for the furthest distance ridden in one hour. “What will stick with me forever is the support and love from the public though thick and thin, all as a result of riding a pushbike for a living,” he added. “2012 blew my mind and was a gas. Cycling has given me everything and I couldn’t have done it without the support of my wonderful wife Cath and our amazing kids.” Wiggins’ first success came at the 1998 Commonwealth Games, where he won team pursuit silver aged 18 before

securing his first Olympic medal in 2000. He went on to become the first Briton to win the Tour de France with victory in 2012 and became the only cyclist to win both the Tour and Olympic gold in the same year when he won the men’s time trial in London 10 days later. He won BBC Sports Personality of the year in 2012, before being knighted in 2013. He won a second madison track world title in 2016 with Mark Cavendish, before helping Team GB to team pursuit gold in Rio. However, Wiggins and Team Sky, the professional team he won the Tour with, were put

under scrutiny in September for his use of therapeutic use exemptions (TUEs), after his confidential medical information was leaked by hackers ‘Fancy Bears’. The cyclist said he sought TUEs to “put himself back on a level playing field”. The TUEs were approved by British authorities and cycling’s world governing body, the UCI. There is no suggestion that either he, British Cycling or Team Sky, his former team, have broken any rules. Wiggins’ final race was in the town of his birth at the Ghent Six Day event in November, where he claimed victory alongside Cavendish.

T H I S D AY • THURSDAY, DECEMBER 29, 2016

THURSDAYSPORTS

AFCON 2017

Zaha, Bailly in Cote d’Ivoire Squad, Gervinho Missing A cluster of Premier League stars including Eric Bailly and Wilfried Zaha was named yesterday in defending champions the Cote d’Ivoire’s 24-player squad for the upcoming Africa Cup of Nations. Crystal Palace winger Zaha features in the list released by the team’s French manager Michel Dussuyer despite playing two games for England. But as those caps were both in friendlies the 24-year-old remains eligible to line up for the country of his birth. He made it plain to the Ivorien Football Federation in November that he wanted to play for the Elephants rather than the Three Lions of Gareth Southgate. Missing from the squad for the tournament in Gabon starting on January 14 was the Elephant’s injured Chinesebased captain Gervinho. Paris Saint-Germain defender Serge Aurier and Stoke City forward Wilfried Bony also figured. Elephants warm up for the defence of their 2015 title with friendlies against Sweden and Uganda. At the Nations Cup, Cote d’Ivoire and Togo are meet

on January 16 in the opening Group C match followed by Democratic Republic of Congo and Morocoo. Squad: Goalkeepers: Sylvain Gbohouo (Mazembe/DRC), Mande Sayouba (Stabaek/ NOR), Ali Badra Sangaré (Tanda/CIV) Defenders: Eric Bailly (Manchester United/ENG), Serge Aurier (PSG/FRA), Simon Deli (Slavia Prague/ CZE), Ousmane Viera Diarrassouba (Adanaspor/ TUR), Wilfried Kanon (The Hague/NED), Lamine Koné (Sunderland/ENG), Adama Traoré (Basle/SUI), Bagayoko Mamadou (Saint Truiden/BEL) Midfielders: Geoffrey Serey Dié (Basle/SUI), Victorien A n g b a n ( G re n a d a / E S P ) , Cheick Doukouré (Metz/FRA), Franck Kessié (Bergamo/ ITA), Yao Serge N’Guessan (Nancy/FRA), Jean-Michaël Séri (Nice/FRA) Forwards: Wilfried Bony (Stoke City/ENG), Max-Alain Gradel (Bournemouth/ENG), Jonathan Kodjia (Aston Villa/ ENG), Giovanni Sio (Rennes/ FRA), Salomon Kalou (Hertha Berlin/GER), Nicolas Pépé (Angers/FRA), Wilfried Zaha (Crystal Palace/ENG).

Zaha of Cote D’Ivoire

Diaby Out of Nations Cup Although Mali have yet to release a list of players for the African Nations Cup finals, Abdoulay Diaby has been ruled out of the tournament in Gabon with injury. The 25-year-old striker was named at the end of last season as one of the top five African players in the leagues in Europe after helping Club Brugge to win the Belgian championship in April and his absence will come as a blow to Mali’s hopes. Diaby competed in the Champions League this season but was hurt in action

against Porto last month and has not played since. He is only expected to be fit again at the end of January, Belgian press reports said. French-born Diaby has been a Mali international since 2014 and competed at the last Nations Cup finals in Equatorial Guinea where Mali were eliminated in the first round after a toss of the coin when they finished exactly equal with Guinea in their group. Next month, Mali will compete in Group D in Port Gentil where they take on Egypt, Ghana and Uganda.

Massa, Aucho Boost Cranes’ Camp Uganda captain Geoffrey Massa and his Baroka FC teammate Khalid Aucho have commenced training with the rest of the Cranes squad as they prepare for the upcoming 2017 AFCON. Massa, who turned out in Baroka’s 1-0 loss to African champions Mamelodi Sundowns last Thursday in Polokwane, and Aucho took part in the full training session. The duo arrived in Kampala last Friday but were

Defensive Blow for Pharaohs of Egypt Egypt will have to do without key defender Rami Rabia in the upcoming African Nations Cup finals after he suffered a training ground injury on Christmas Day. He will be out for six weeks after hurting his ankle, said a statement from Al Ahly. It is expected to be a serious blow to coach Hector Cuper’s hopes for the Pharaohs at the tournament in Gabon, where they have a tough group with Ghana, Mali and Uganda. Rabia had just returned from a serious knee injury that kept

him out of action for a long spell. He made two appearances after recovering from the knee injury - coming on as a late substitute in a 3-1 league win over Al Masry before playing the full 90 minutes against lower-tier Aluminum in the Egypt Cup last week. Fellow Ahly defender Ahmed Hegazy, who usually partners Rabia in the heart of Egypt’s defence, resumed training on Sunday after recovering from a hamstring injury that sidelined him for a fortnight.

Rabia of Egypt

given three days off, one more than the rest. US-based midfielder Mike Azira, who plies his trade for the Colorado Rapids, arrived on Monday night and did only a third of the session before doing a recovery session on his own. Uganda coach Milutin ‘Micho’ Sredojevic was visibly pleased with the arrival of the three professionals and said, “Azira is joining us from

a different time zone and different climate so we tried to help him acclimatise to the training by doing 35%, then recovery.” “Massa and Aucho have also joined and are involved in the full training session. It is good to have the three players join us. We now have a squad of 24 players this week until Friday, when we reduce the squad by one goalkeeper and three players.” Aucho praised his

teammates’ work rate and said, “We found the mood in camp is very high. Everyone is working very hard to make the final 23-man squad that will go to Gabon. This is very important for us as a team to work together.” Five players will join the squad over the weekend including goalkeeper Robert Odongkara, Farouk Miya, William Luwagga Kizito, Geoffrey ‘Baba’ Kizito and Moses Oloya.

T H I S D AY THURSDAY DECEMBER 29, 2016

Thursday, December 29, 2016

UT H

& RE A S O

Price: N250

MISSILE Etete to FG “Just a simple question: Can the government litigate (against) itself? “The Attorney General of the Federation negotiated this settlement himself and all stakeholders took part and were properly represented. “The federal government collected USD210 million signature bonus instead of the original signature bonus of USD20 million like Danjuma’s Block 246 which was awarded by me at the same time as OPL245.” – Former minister of petroleum, Dan Etete questioning the federal government’s decision to file charges against him in a matter in which the former administration reportedly negotiated fully with all stakeholders represented.

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

Let’s Discuss Interest Rates I

nterest rate is a very important subject in economics. Its origin dates back to the medieval times and it is almost as old as money and exchange. Economic history has it that in the olden days, merchants would keep gold, which is today represented by money, with goldsmiths who would charge the owner of the gold for safe keeping. This was started in England several centuries ago. As time went on, the goldsmiths stopped charging merchants and instead started paying to keep gold in safe custody for them. This transformation became necessary because goldsmiths realised that they didn’t just have to lock up the gold in their safes but gave same out as loans to those who required them to do business from whom they charged fees. These fees, they shared with owners of the gold. That marked the advent of modern banking. In a loan situation, interest is the difference between money borrowed and money paid back in relation to the time the money was kept by the borrower. It is usually calculated in percentages over a period of time, usually one year or fractions thereof. If for instance, I borrowed N100 from you and one year after, I paid back N110, the additional N10 paid is the interest and the rate would be10% per annum. In strict terms, interests are justified for two main reasons. One, because of what economists refer to as the “time value of money”, the N100 I borrowed from you would not buy what it could have bought a year ago when you lent it to me. So, it is important to cushion the effect of inflation. Second, it is expected that the N100 I borrowed from you should have been profitably used to make additional money over and above the original loan amount. It is therefore, only fair that you get some part of the profit I made not only to compensate you for parting with your money for that period of time, but also for you to share in the prosperity created by combining your money with my effort to bake a bigger cake. In modern times, however, interest rates have been used in more ways than described above. They are used to influence the direction of the economy as a major tool of monetary policy. They are also used to encourage or discourage savings, investments and consumption. They are used in foreign exchange management as well as inflation. They also influence borrowing and the stock market trading activities. We shall examine these and more in turn. The whole idea of this intervention is to help our understanding of the concept of interest rates as a tool in managing economic desiderata in the nation while at the same time deepening debate of this important subject as we struggle to stabilize our challenged economy. The relationship between interest rates and savings is a direct or linear one. Under normal circumstances, when interest rates go up, savings would go up. Because of the relationship between savings and consumption, when savings go up, consumption would reduce. This is simple because in economics, income is either saved or consumed. The incentive to save is discouraged when interest rates are low. The reverse is also correct such that when interest rates are high,

Minister of Finance Kemi Adeosun people would rather save than spend. Interest rates affect borrowing by individuals and firms. If interest rates are high, the tendency is for businesses to stay away from loans. When loans are cheap, the incentive to borrow is higher because businesses would be able to return the loan, the interest and keep reasonable margins for themselves. This fundamental principle also affects the bond and stock market, be they public or corporate. With low interest rates, investment in bonds and stocks would increase. However, in a high interest rate regime, investments in bonds and stocks would reduce. The only exception is where the change in interest rates is outweighed by the rate of change of the price of bonds. For instance, if interest rate increase is lower than the rate of change in stock prices such that healthy margins still exist, then it would still be profitable for the investor to borrow and invest in the bond, again subject to other alternative options open to him. Interest rates have a very interesting effect on inflation. This is because inflation erodes the purchasing power of the populace. It is defined as the rise in the general price level of goods and services over a period of time. Strictly speaking, an inflation rate of 10% means that the worth of N100 in your hands over the same period of measurement is N90. So, to adjust for inflation, economists talk of real value as distinct from nominal value. While the former refers to inflation-adjusted value, the latter speaks to the absolute unadjusted value. In the example we gave about my borrowing N100 from you, the N10 would mean a nominal interest rate of 10%. If within the year, inflation rate was 3%, (and note that this is for purposes of this discussion as we all know where inflation rate is today), then the real interest rate would be 10% minus 3% which would be 7%. In reality therefore, if interest rate is set anywhere less than 3%, we will be dealing with negative real interest rate. Assuming that we are dealing with a rational and well informed lender, he would not lend the money to me at any rate less than 3% as he would be losing money. You will, however, notice that some information may not be at the disposal of the lender at the time of making the lending decision. At best, he would make projections, if he is very savvy. This is a major problem with fixing interest rates while

looking at inflation figures. Another major issue has to do with investment or savings options available to the individual. Banks would tell you that majority of savers are not interest rate-sensitive. This is because of a whole lot of factors, ranging from leaving balances in accounts for transactions through comfort / habit to switching costs and loyalty. It is therefore understandable if savers and investors do not withdraw their money after National Bureau of Statistics had published that inflation rate had gone up to 18.3% by the end of October 2016. Meanwhile, they are getting much less than that from their savings in their banks. If you decide to tweak your rates to adjust to the inflation rate, you may not get commensurate reaction from that action. This is, however, not true of borrowers particularly businesses as the impact of an upward adjustment in rates is immediately felt in the bottom-line. Besides, an immediate and commensurate adjustment in the prices of the products may be met with resistance by the consumers as they also reel from the negative effects of inflation. Typically, businesses react to adverse changes in interest rates in ways that further hurt the economy. They start with cutting costs and the first casualties are usually labour and over heads, which will in turn lead to reduction in output and capacity utilisation and in extreme cases, shutdowns and closures. I’m confident we are very familiar with these in the recent times. These actions lead to worsening unemployment, reduction in consumption, reduction in government revenue as unemployed people and closed companies would be taken out of the tax net and finally, more social tension and crime. Meanwhile, whatever the closed companies were producing would be replaced by alternatives mostly imported. This is true given that the cost structure of most firms in the same industry are similar. As this is done, more pressure is put on the scarce foreign exchange and the production plants abroad are kept open and active with more jobs being created as a result of increased demand. On another note, a high interest rate regime, engenders poor loan quality in the banking industry. This is because borrowers are brought under pressure and many end up defaulting. Usually, banks are wary of lending under this regime for fear of creating bad loans. Besides, the banks are able to invest their loanable funds in government securities and bonds which today attract interest rates in the region of 18% pa and above. If government pays over 18% for risk free instruments, most banks would see no incentive in lending to businesses at higher rates, given the risk associated with such loans with a possibility of total default and eventual write-off of both principal and interest. The last point I want to address is the foreign exchange market. Theoretically, a high interest rate regime would discourage foreign exchange speculation. This sounds logical because if interest rates are low, people will borrow from the banks and launch speculative attacks on the dollar for profit in due course when exchange rates would have deteriorated further against the local currency. When the value of the local currency becomes weaker, they would open their vaults

and release the stockpiled foreign currency and make super profit after paying the low interest charged by the bank. This argument is only sound in theory as there are a lot of other variables that determine how speculators behave. The first major factor is not interest rate. It is the behaviour of exchange rate and their sense of where those rates are going to be in the future. So, the issue is not interest rate, but the foreign exchange management policy. I had argued in the past that if in the minds of speculators, the degree of depreciation of the foreign currency will more than compensate for the high interest rates, they will continue to borrow to stockpile dollar, no matter where you take interest rates to. Again, funding for speculative attacks is not limited to loans from banks. It could be from disposal of assets including investment in the stock market, savings and other sources. So, keeping interest rates high in a bid to protect the naira is very unlikely to serve the purpose intended. Given that we are aware that we do not have all the foreign exchange we require, it would be wise to stop the attempt at fixing the rates and holding them at predetermined levels. Doing that is the greatest incentive to speculators. Yes, floating the currency may lead to temporary increase in exchange rates, but it will also lead to more inflow of foreign currency into the market and ultimately, exchange rates will come down and settle at more realistic levels than where they were in a controlled environment. The CBN will reserve its right to intervene from time to time by selling or buying dollars in the market to help stabilize exchange rates. The market will be seen as more transparent and speculation will give way to confidence. Before I conclude, I must mention the role of the regulatory authorities, in this case, the CBN in determining the direction of interest rates. This role is played by other reserve banks in virtually all the countries of the world. The Monetary Policy Committee of the CBN meets every other month to set the benchmark rates called monetary policy rate (MPR). This is the rate CBN lends to commercial banks upon which market rates are based. In the last couple of months, our MPR has been set at 14%. Interestingly, a global comparison of reserve rates is published periodically by the US Federal Reserve and recent data can be found in www.tradingeconomics.com. Amongst other revelations, most underdeveloped countries are amongst the countries with highest policy rates. Ghana came first with a policy rate of 25.5%; followed by Argentina, 24.75%; Malawi, 24%; Mozambique, 23.25%. Nigeria is 18th with our policy rate of 14%. As you approach the lower end, countries like Austria, Belgium, Luxembourg, Spain, and France show up with policy rates of 0%. Yes 0% interest rates. Japan, Sweden, Denmark, and Switzerland have negative policy rates of -0.10%, -0.50%, -0.65%, and -0.75% respectively. Note that USA and UK have policy rates of 0.75% and 0.25% respectively. Could this have anything to do with the management of these economies or is it sheer coincidence? Well, ladies and gentlemen, as I wish you a prosperous 2017, I will make one request: Let the discussion continue.

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja . All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com